Friday, May 8, 2015

US to present Greece with counter offer to Russia's pipeline

 8 May 2015
US to present Greece with counter offer to Russia's pipeline
A US envoy will present Greek officials with an alternative to Russia's pipeline on Friday after Putin promised funding for the project.
Special Envoy of the US State Department for energy matters Amos Hochstein will meet with the Greece's Minister of Foreign Affairs and Minister of Productive Reconstruction, Environment and Energy on Friday to discuss an alternative to Russia's Turkish Stream Pipeline project, the press services of those ministries told RIA Novosti.
Russian President Vladimir Putin said on Thursday that Russia is willing to finance the construction of the Turkish Stream pipeline through Greece. Putin said in April that by joining the project Greece could become one of the main power distribution centers in Europe and earn hundreds of millions of euros a year from gas transit fees.
The US Energy Secretary Ernest Moniz previously said that the US is planning on presenting Greece with an alternative pipeline from Azerbaijan. According to Greek Foreign Minister Nikos Kotzias, the pipeline would include Bosnia and Albania.
The Russian offer and planned US counter-offer come less than a day after German Finance Minister Wolfgang Schaeuble said that Greece should not look to China or Russia for a solution to its debt crisis.

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