Greece ratifies South Stream deal

The Greek parliament has ratified an agreement with Russia for the construction of an artery of the South Stream pipeline.

Izvor: Tanjug

Friday, 29.08.2008.

10:33

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The Greek parliament has ratified an agreement with Russia for the construction of an artery of the South Stream pipeline. MPs from the ruling New Democracy party, the opposition PASOK, as well as members of the National Orthodox Gathering voted in favor of the agreement, while the Radical Left Coalition voted against, reports the Greek ANA agency. Greece ratifies South Stream deal South Stream is due to transport Russian natural gas to Europe from Novorossisk, passing under the Black Sea to Bulgaria and Greece. Greece called the agreement, signed in April, “historic”, while Development Minister Christos Folias said that everything was on schedule, and that the pipeline would be complete by 2014. Folias stressed that this project was not in conflict with other pipelines, and that South Stream would be a boon as demand for gas in Greece and the EU was constantly rising. The joint venture between Russian Gazprom and the Italian petrochemical concern ENI is envisaged for the transport of Russian and, maybe, central Asian gas to Europe. The overall capacity of the pipeline, whose construction will cost over USD 10bn, will amount to 30 billion cubic meters of gas per year. By the end of the year, Gazprom plans to complete market research and analysis into the technical and economic feasibility of the project, while the pipeline would come into operation in 2013. The underwater section of the pipeline from the Russian Black Sea coast, near the town of Arhipo-Osipovka, to Burgas in Bulgaria will be 900km long, reaching a maximum depth of 2,000 meters. The overland section of the pipeline is planned to be made up of two arteries, one going through Bulgaria and Greece and on under the Adriatic into Brindisi in Italy, with the other heading north into Austria.

Greece ratifies South Stream deal

South Stream is due to transport Russian natural gas to Europe from Novorossisk, passing under the Black Sea to Bulgaria and Greece.

Greece called the agreement, signed in April, “historic”, while Development Minister Christos Folias said that everything was on schedule, and that the pipeline would be complete by 2014.

Folias stressed that this project was not in conflict with other pipelines, and that South Stream would be a boon as demand for gas in Greece and the EU was constantly rising.

The joint venture between Russian Gazprom and the Italian petrochemical concern ENI is envisaged for the transport of Russian and, maybe, central Asian gas to Europe.

The overall capacity of the pipeline, whose construction will cost over USD 10bn, will amount to 30 billion cubic meters of gas per year.

By the end of the year, Gazprom plans to complete market research and analysis into the technical and economic feasibility of the project, while the pipeline would come into operation in 2013.

The underwater section of the pipeline from the Russian Black Sea coast, near the town of Arhipo-Osipovka, to Burgas in Bulgaria will be 900km long, reaching a maximum depth of 2,000 meters.

The overland section of the pipeline is planned to be made up of two arteries, one going through Bulgaria and Greece and on under the Adriatic into Brindisi in Italy, with the other heading north into Austria.

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