Only time will tell if Poseidon can become a new gas pipeline

4 march 2016 | Russia - 24

The Chief Adviser to the Head of the Analytical Center Leonid Grigoriev talked about the Poseidon project and why both Russia and Europe are interested in it in the Energetika program on Russia-24 TV channel.

Leonid Grigoryev
Leonid Grigoryev
Chief Adviser to Head of the Analytical Center

Еxperts note that today Poseidon may very well become the new South Stream for Russia. In addition to other potentially lucrative markets, the project is being heavily lobbied by Italy, which is the third largest consumer of Russian natural gas. Greece and Bulgaria are also showing interest in the project.

Mr. Grigoriev is sure that it is a political decision for business projects. “Gazprom has already invested huge amounts of money in the project and large amounts of pipes have been delivered to Bulgaria. At the same time, some of the work required for the project in Russia has also been completed. So we have already sunk huge funds into it,” the expert said. Gazprom is ready to supply its natural gas to whoever is willing to buy it and this kind of business behavior makes perfect sense, Mr. Grigoriev believes.

Only time will tell if Poseidon can become a major pipeline for Russian gas, the expert noted.

Source: Russia-24