Greece to join Russian-backed South Stream gas pipeline project

[phoebus]

*******
Published: April 15, 2008


ATHENS (http://www.iht.com/articles/2008/04/15/business/pipe.php#): Greece has agreed to join the Kremlin-backed South Stream natural gas pipeline project, further intensifying energy ties with Russia, the development minister of Greece, Christos Folias, said Tuesday.

The pipeline, which will be jointly built by Gazprom and Eni of Italy, will eventually take 30 billion cubic meters, or 1,059 billion cubic feet, Russian natural gas a year to southern Europe, with Greece becoming a transit state on the southern arm of the pipeline pumping gas to Italy.

Analysts have said that the project, which aims to link Gazprom's Siberian gas fields with Europe and is seen as a competitor to the EU-backed Nabucco pipeline, will cost around €10 billion, or $15.82 billion. "We have agreed to be part of the South Stream project," Folias said. "We are now discussing technical details to formulate a document that we can then sign. The political will is there" from Russia and Greece.

Folias said he did not view the long-stalled Nabucco pipeline, designed to eventually pump 25 billion to 30 billion cubic meters a year from Turkey to Austria, as a competitor to the South Stream project, which will run from Russia via a 900-kilometer, or 558-mile, underwater pipeline across the Black Sea to Europe.

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http://www.iht.com/articles/2008/04/15/business/pipe.php

[Afro-European]

^^^41% of European oil and gas come from Russia.When the north and south stream will start pomping their oil and gas,Europe dependance on Russia will be like 55%,which will give Russia more power over the West.
I wonder if the long stalled Nabucco project will ever get off the ground, with troubles in South Ossetia and Abkhazia ahead.

[INAT]

The Russian strategy of energy advancement towards Europe has been executed through coordinated energy agreements with Balkan states. The Burgas-Alexandroupoli pipeline agreement on the 15th of March 2007 was a first crucial step towards that aim. With a transport capacity of 30 million tons per annum (Initially) reaching 50 million, this particular pipeline greatly elevates Greece’s natural geoeconomic role in the wider Southeastern European region. Firstly it effectively trespasses the Turkish Bosporus Straights and eases the exports of Eurasian oil to Western Europe. Therefore Greece becomes an important terrain on which European energy security depends on, a factor that translates to political clout to an extent in the modern world. The Russian side which owns 51% shares of the pipeline, through the corporation Lucoil is interested in investing in refinery capabilities in Greece. Already it operates a similar facility in Burgas and the plans as they have been transmitted in the Greek press, state around an interest in either constructing an industry in Alexandroupoli or buying a share in a Greek oil industry.In a nutshell this is good news for Greece politically and economically.

[GazB]

Europe dependance on Russia will be like 55%,which will give Russia more power over the West.

Yeah so if it makes them 10% more powerful... that means 10% x 0 equals 0... damn they still have less say over Europe than Latvia, or Slovakia...

[Arbody]

triple urrrhaaa comrad's

[Afro-European]

Yeah so if it makes them 10% more powerful... that means 10% x 0 equals 0... damn they still have less say over Europe than Latvia, or Slovakia...
See Nato summit in Bucharest.Why do you think Germany and France didn't back Georgia an Ukraine Nato membership bid?
Russia doesn't have a direct influence over Europe but its energy policy influences somewhat European foreign policy.

[phoebus]

In a nutshell this is good news for Greece politically and economically.

Also this was a gigantic success on Putin's behalf, in the end of his career as President or RF. Having those energy routes passing through the Hellenic regions of Thrace, Macedonia and finally Epirus is also a good hint for our politicians to keep the armed forces strong in those areas. I am hopefull that in a few days, major defence aquisitions will be announced by Hellas, with a huge chunk going to the Russians.

I'd like to be optimistic by this whole situation (ie S-400, Buk-M2, Pantsir, and God knows what else..) :)

[randomguy]

Yeah so if it makes them 10% more powerful... that means 10% x 0 equals 0... damn they still have less say over Europe than Latvia, or Slovakia...

i dont even have to make fun of you over that statement, you did it by yourself.

[Stonewall71]

Great move for Russia! Very Good!woot

[GazB]

See Nato summit in Bucharest.Why do you think Germany and France didn't back Georgia an Ukraine Nato membership bid?

France and Germany tend to understand Russia better than the other members of NATO.
I really don't think they didn't back Georgian membership of NATO because they thought Russia might turn the gas taps off.


i dont even have to make fun of you over that statement, you did it by yourself.

Making fun of people because of the things they say is very juvenile and immature. Are you really that sort of a person, or would you like to say which part of what I said you disagree with and we can discuss that...

[Afro-European]

[quote]France and Germany tend to understand Russia better than the other members of NATO.
If it's the case then they wouldn't have backed the Baltic states joining Nato in 2004.


I really don't think they didn't back Georgian membership of NATO because they thought Russia might turn the gas taps off.

No but it may have some impacts as the German government covers € xxx billion of the Nord Stream project cost.Further ex-cancellor Gerhard Schroeder is the head of the shareholders' committee of North Stream AG.