News
Greek Prime Minister George Papandreou said...
completed, the pipeline will pump 35 million metric tons of oil a year (257 million bbl), a volume that could eventually be increased to 50 million metric tons (368 million bbl). Under an intergovernmental agreement signed in 2007, Russia holds 51% in the project company, while Greece and Bulgaria hold 24.5% each.Greece has also joined the South Stream gas project, which is a part of Russia"s efforts to cut dependence on traditional transit nations while circumventing the need for the EU-backed Nabucco, which would bypass Russia. It is scheduled to be completed by 2015.
Papandreou said "the process of setting up a Greek-Russian company to build the Greek section" of the pipeline "is almost complete, as is the feasibility study."
He added "Greece is working with all our European partners affected by the pipeline to ensure that South Stream is incorporated into the EU"s Trans European Networks."
Greece"s soaring debt, which caused an economic crisis
Pages: 1 [2] 3