Greece’s energy minister has estimated the project would cost $US2.1 billion.
Prime Minister Alexis Tsipras expressed interest in Greece’s participation in the pipeline during talks with Russian President Vladimir Putin in Moscow recently. Putin said no specific agreements were reached and it would be up to Athens to decide, according to Reuters.
Reuters reports that Russia hopes to construct a “÷Turkish Stream’ pipeline that would help it maintain leverage in its rivalry with the West.
“An agreement (on the pipeline) will most likely be finalised in the coming period,” Greek Energy Minister Panagiotis Lafazanis told Greek radio, according to Reuters. Mr Lafazanis said the project, which would be fully financed, built and operated by private companies, would create some 20,000 jobs.
Currently, the Trans-Adriatic Pipeline (TAP) is the largest project under way to bring new supplies to European buyers. Cash-strapped Greece is seeking benefits from allowing TAP to cross its territory.