Greece to invest $2 bn in Turkish Stream, will sign memorandum asap – Energy Minister

This is why it’s oft said here that Greece will not be going anywhere. They’re too strategically important for Europe and will likely become the energy hub for the continent — whether they transit supplies from Cyprus, Russia or wherever else. In a worst case scenario, Greece will be part of a periphery economy should the EU restructure itself.

Ironically, Greece says it cannot meet its next payment due to the IMF June 5th. You can see the payment calender HERE.

 

Greece plans to sign a document on political support for Gazprom’s Turkish Stream project at the St. Petersburg International Economic Forum in June, its Energy Minister announced on Monday. The country plans to invest $2 billion in its construction.

A memorandum on political support for the gas pipeline project will be prepared by June 18-20, when the International Economic Forum (SPIEF-2015) will be held in Russia’s St. Petersburg, Greek Energy Minister Panagiotis Lafazanis announced on Monday. Continue reading