Athens hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Alexis Tsipras, Prime Minister of the Republic of Greece. The parties addressed the main areas and prospects for the Russian-Greek cooperation in the gas sector.

The meeting pointed out the need to diversify natural gas supply routes to Europe and the prominent role of a new gas pipeline from Russia to Turkey, which is expected to considerably increase the European energy security.

The parties agreed that a Russian-European consortium could be responsible for building the necessary gas transmission facilities in Greece. Alexey Miller stressed that the EUR 2 billion project would be delivered in full compliance with the European law.

Ultimately, this project will guarantee the transit of up to 47 billion cubic meters of gas from Gazprom, and that will provide Greece with external funds for other projects.

“The Greek Government supports the project and today we have no doubts that the Russian-European consortium will fully finance it,” said Alexey Miller.

About Gazprom and Greece

Russian natural gas supplies to Greece started in 1996. According to provisional estimates, Gazprom delivered 1,745 billion cubic meters of gas to Greece in 2014.
On December 1, 2014 Gazprom and Turkish Botas signed the Memorandum of Understanding on constructing an offshore gas pipeline across the Black Sea towards Turkey. Stretching for 1,100 kilometers, a four string gas pipeline will have a capacity of 63 billion cubic meters and will convey up to 47 billion cubic meters of gas to the Turkish-Greek border.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.