Greece and Russia Sign Memorandum on "Turkish Stream"

The Russian Energy Minister Alexander Novak and the Greek Energy Minister Panayiotis Lafazanis signed a memorandum on the construction and operation of the pipeline in the continuation of the “Turkish Stream” today.

"By signing the memorandum we confirm months of work we were to spend on arranging the gas pipeline through the territory of Greece. ... This pipeline will play a stabilizing role in the region. The project is not directed against anyone, but on the contrary, combines all the regions through which it will pass," Lafazanis said at the meeting with Novak that preceded the signing of the document.

For its part, the Russian Energy Minister said he was glad to move forward to implement the plan in the energy sector, and noted that the signing of the memorandum will bring the cooperation between Russia and Greece to a new level," RIA-Novosti said.

The fate of the "Turkish Stream" was discussed by the Presidents of Turkey and Russia in Baku last week. Earlier Ankara hinted that it would waive this project after Putin's statement on "Armenian genocide" in Yerevan.

Later, Ankara's position has softened, but unequivocal confirmation of the construction of this pipeline has not yet come from Turkey.

The pipeline should be laid via the Black Sea and it will consist of four threads to bring up to 47 billion cubic meters of gas to the Turkish-Greek border. It is expected that a gas hub will be created on the border between Turkey and Greece.

Russia seeks to build the pipeline to refuse transportation through Ukraine. The European Union is trying to prevent this project so that the Kremlin could not use gas supplies as a political tool against Kiev and Europe as a whole. Turkey is trying to use this situation to its own advantage and trades simultaneously with Moscow and Brussels. Greece is trying to threaten Brussels with its rapprochement with Moscow to make the EU write off its debts. -02D-