Greece Positions Itself At The Heart Of Caspian/Mediterranean Supply Route

The Greek and Russian governments have pledged to redouble efforts to build the Trans-Balkan pipeline after negotiations on the issue stagnated. The Greek, Bulgarian and Russian governments signed an agreement in April of last year but since then there has been little movement for the project. It is designed to relieve pressure on the overloaded Bosphorus Straits, which handles 2.9mn barrels of Russian and Caspian crude every day and in 2004 experienced its worst bottleneck for more that 10 years. Such huge quantities of hydrocarbons passing through the narrow Straits has prompted fears of an environmental disaster that could interrupt

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