Greece–Italy relations

Russian company Stroytransgaz will start building a gas pipeline in Macedonia that would link the Balkan country's gas network system to neighbouring Greece.

Bulgaria wants the European Commission to revive plans for the Nabucco pipeline that would pump gas from the Caspian Sea, after a Russian project seen as a rival was scrapped, Prime Minister Boiko Borisov said on Wednesday.

Turkish Energy Minister Taner Yildiz has described the Trans Anatolian Natural Gas Pipeline (TANAP) as a priority project for the country.

Bulgaria's Energy Minister Temenuzhka Petkova will take part in the first meeting of the Consultative Council on the Southern Gas Corridor project.

The meeting will take place on February 12 in Baku, Azerbaijan, according to the press office of Bulgaria's Energy Ministry.

Italian Prime Minister Matteo Renzi said Tuesday he believes Greece will be able to strike a deal with its EU partners over its massive debts.

?I believe the conditions exist to find an accord with the European institutions,? Renzi said at a joint press conference with Greek Prime Minister Alexis Tsipras following talks in Rome.

Turkish Prime Minister Ahmet Davutoğlu has stressed on late Dec. 23 Ankara’s ambition to make the country a transit hub for all energy in the region.

“All energy will flow through Turkey just as all roads lead to Rome,” he said in a conference of ambassadors in the Macedonian capital of Skopje.

Russian Energy Minister Aleksandr Novak considers Turkey to be a reliable partner for the delivery of Russian natural gas to Europe, he said in a live TV interview Dec. 22.

“We have recently had very good relations with our Turkish partners, especially in the field of energy,” Novak told Russian news channel Rossiya 24 in an interview.

Russia's Energy Minister Alexander Novak on Friday urged Bulgaria to issue in timely manner all permits relating to the construction of the seabed section of the South Stream gas pipeline project.

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By Chryssa Liaggou

Natural gas will be 20 percent cheaper for Greek consumers by March, while the first 5 percent drop in rates will come next month thanks to the significant decline in the commodity’s global prices, according to Environment, Energy and Climate Change Deputy Minister Makis Papageorgiou.

The Vertical Gas Corridor connecting the gas grids of Bulgaria, Greece, and Romania, will have a capacity of 3-5 billion cubic meters a year, according to reports of Greece's Energy Ministry.

On Tuesday, the three countries agreed to build the Vertical Gas Corridor as an alternative to the South Stream gas pipeline project, according to the Bulgarian National Radio.