Putin revives plan for Greek oil port

Russia’s President Vladimir Putin will meet in Athens next Monday [September 4] with Greek and Bulgarian officials for what the Kremlin describes as a session to focus on a proposed new crude oil pipeline to carry Russian crude oil from Burgas (Bulgaria) to a new tanker terminal at the Aegean port of Alexandropoulos. Transneft’s chief executive Semyon Vainshtok and a senior Gazprom executive, possibly chief executive Alexei Miller, will also attend, the two companies told The Russia Journal.

The 285-kilometre pipeline, with a capacity to transport 1 million barrels of crude per day, and costing about $700 million, would bring Russian crude oil closer than ever before to the Suez Canal, for shipment eastwards to Indian and African buyers.

Russia Journal