Russia-Greece cooperation in energy has prospect for expansion-PM

Russia-Greece cooperation in energy has prospect for expansion-PM

24.04.2008, 14.49

ATHENS, April 24 (Itar-Tass) - Cooperation between Russia and Greece in the energy sphere is important and has a prospect for expansion, said Greek Prime Minister Konstantinos Karamanlis in an exclusive interview with Itar-Tass before his Moscow visit on April 29.

“I’d like to call this partnership important and having a prospect for expansion,” Karamanlis emphasised. “Here is an interesting fact: Greece will consume seven billion cubic meters of gas by the end of 2015, and 80 percent of this gas will come from Russia.”

Asked how Greece sees Russia’s role in diversifying energy supplies to the European market, the premier said that, speaking as a whole, European energy security is a question, assuming rising importance in the broad geopolitical framework of Europe.

“The need for diversifying energy sources is now a priority for European countries, taking into account the premise that considerable quantities of oil and gas will come to the European market from the Caspian region in the near future,” he noted.

Turning to the Russian-Greek-Bulgarian project of building a Burgas-Alexandroupolis oil pipeline, Karamanlis said, “It is being realised in line with the set schedule”. “The international consortium that will shoulder construction and operation of the oil pipeline, has already been set up in the Netherlands and vigorously works on translating the project into life,” underlined the Greek cabinet head.

The agreement on building the Burgas-Alexandroupolis oil pipeline was signed in March 2007. The project worth one billion euros presupposes transportation of Russian oil to Mediterranean terminals, by-passing the Turkish Bosphorus and Dardanelles straits, which will ease the load on this transport artery and cut the cost of deliveries. The oil pipeline will be 300 kilometres long, and its annual throughput capacity will be between 35 and 50 million tonnes of crude.