Greece, Russia to deepen energy cooperation

Greece, Russia to deepen energy cooperation

Sioufas held a meeting Tuesday with the visiting Russian Industry and Energy Minister Viktor Khristenko to discuss the oil pipeline deal and extending the Greece-Russia natural gas agreement after 2016.

Speaking to reporters, Sioufas said the Greek Parliament had already ratified a tri-party agreement among Greece, Russia and Bulgaria and that a similar process was expected to be completed in Russia and Bulgaria over the next few days.

According to the development minister, progress was also being made in a discussion on extending an agreement for the supply of natural gas from Russia to Greece until 2040, while noting that collaboration on this front so far had been good and reliable.

Khristenko, on his part, stated that relations between the two countries were at a very "high political level" and stressed that cooperation was important and also contributed to the resolution of Europe's energy problems.

Russia, Bulgaria and Greece signed a final agreement in late March in Athens concluding a long-awaited deal to build an oil pipeline transporting Russian oil to a port in Northern Greece. The 280-km pipeline will transport crude oil from Bulgaria's Black sea port Burgas to Greek Port Alexandroupolis.