Gazprom announces new gas supply route under Black Sea

Baku. 25 February. REPORT.AZ/ Russian energy giant Gazprom has said it signed a memorandum with Italy's Edison SpA and Greece's DEPA SA on gas deliveries.

Report informs referring to the Interfax, in a press statement, it has explained that according to the memorandum of understanding signed in Rome, gas will be delivered under the Black Sea "via third countries" to Greece and will be transported "from Greece to Italy with the ame of organizing the southern route of supplies of Russian natural gas from Europe."

In practice, "third countries" could mean either Bulgaria or Turkey.

The announcement is a major development that follows the demise of the South Stream gas pipeline in December of 2014 and the deadlock of its alternative Turkish Stream caused by tensions between Ankara and Moscow.

Russian business daily RBC quotes Mikhail Korchemkin, who heads the East European Gas Analysis, as suggesting that the expression "third countries" in Gazprom's statement means mostly "Bulgaria".

"The agreement reflects the interest of countries along the route in deliveries of natural gas from Russia under the Black Sea bed via third countries to Greece and from Greece to Italy," the statement also reads.