The Greek government has expressed interest in the Turkish Stream, the gas pipeline aimed at replacing the 63 bcm/year South Stream gas pipeline project from Russia to Bulgaria. Greece is seeking to take part to the project, which could help the country to become a gas hub in southeastern Europe and pay off its debt to international creditors. The Greek part of the project might be financed by Russia with Greece repaying Russia after 2019, when the pipeline becomes operational.
The planned 63 bcm/year gas pipeline will cross the Black Sea and land near the Kayaköy village. The onshore section in Turkey will stretch over 180 km to the gas delivery point for Turkish consumers in Lïeburgaz and a border crossing between Turkey and Greece in Epsila. The transmission capacity to Greece has been estimated at 47 bcm/year (leaving 16 bcm/year for Turkish domestic consumption). The first string of the offshore gas pipeline is expected to be completed by December 2016 and commissioning is expected in 2019.