Deal signed to build oil pipeline
Russia, Greece and Bulgaria signed a deal to build a 175-mile pipeline to transport Russian oil to a port in northern Greece, a pact that the three governments hailed as helping to secure Western oil supplies.
The pipeline from Bulgaria’s Black Sea port of Burgas will transport crude to the port of Alexandroupolis.
The project will improve networks in southeastern Europe that transport oil and gas from the Caspian Sea region to the European Union.
Russia already provides Europe with a third of its oil and 40% of its natural gas, and the pipeline deal is likely to deepen that dependence on energy from Moscow.
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