Energy in Italy

Russian Energy Minister Alexander Novak has said construction of the so-called Turkish Stream gas pipeline might begin later than planned.

There is a risk not to start building the pipeline's first section on schedule the intergovernmental agreement is not signed in time, Novak is quoted by RIA Novosti as saying.

The Greek section of the Turkish Stream pipeline will cost USD 2 billion, Greek Minister of Energy Panagiotis Lafazanis has said.

He told the Rossiya 24 broadcaster that there is "enormous interest" among Greek companies to build and use the gas pipeline.

Serbia's potential participation in the Trans Adriatic Pipeline (TAP) does not mean that it will give up on cooperating with Russia regarding energy supplies.

That is according to Russia's permanent representative to the EU, Vladimir Chizhov, who spoke on Friday.

By Renee Maltezou & Angeliki Koutantou

Greece held "constructive" talks with the head of Russian gas giant Gazprom (GAZP.MM) who visited Athens on Tuesday and hopes that the two sides would soon reach a deal on a pipeline that will bring Russian gas to Europa via its territory.

State Minister Alekos Flambouraris confirmed the intent of advance payments of profits — by Russia — from the creation of a new gas pipeline, estimating that its construction would bring more than 200 million a year in profits to the Greek state.

Gazprom has paid a total of RUB 56.12 B (around USD 1 B) to the European partners in South Stream Transport BV, Eni, EDF, Wintershall, for their stakes in the South Stream gas pipeline.

According to reports of the Russian energy giant, as cited by Interfax, it bought the shares in the consortium of Germany's Wintershall, Italy's ENI, and France's EDF.

Any decision to build a pipeline to transport Russian gas through Turkey should be made in consultation with the European Union and should not breach pre-existing legal commitments, the European Commission?s energy chief said.

The Trans-Anatolian Natural Gas Pipeline (TANAP) project expects BP to resolve outstanding issues soon to become a stakeholder in the multi-billion dollar project that aims to reduce Europe's reliance on Russian gas, a TANAP official said on late March 11.

A Bulgarian delegation will visit Moscow end of this week to discuss the South Stream gas pipeline project, Bulgaria's Economy Minister Bozhidar Lukarski told journalists in Belgrade.

He is part of the Bulgarian delegation to the economic summit of Central and South Eastern European countries and China in the Serbian capital.

Russian state gas company Gazprom said Dec. 8 it would set up a company to build a gas pipeline to Turkey, days after President Vladimir Putin announced the new project.

“The company will be registered in St. Petersburg ... [it] is called Gazprom Russkaya,” Gazprom spokesman Sergei Kuprianov said in a statement.