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Joint statement by Vnesheconombank and the Greek Ministry of Reconstruction of Production, Environment & Energy on the Development of Infrastructure in Greece

19 june 2015 года
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Joint statement regarding the development of infrastructure in Greece by the Greek Ministry of Reconstruction of Production, Environment & Energy on the development of infrastructure in Greece and State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank) of the Russian Federation.

Taking into account the strategic nature of relations between the Russian Federation and the Greek Republic and having intentions to expand mutually beneficial cooperation in investment projects on the territory of the Greek Republic;

After detailed discussions,Mr. Panagiotis Lafazanis, Greek Minister of Reconstruction of Production, Environment & Energy and Mr. Vladimir Dmitriev, Chairman of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ after their meeting in the course of the Petersburg International Economic Forum-2015:

  1. Declare that the two sides are committed to a decision on rendering any assistance in implementing a gas infrastructure project “the South European Pipeline “ (hereinafter referred to as SEP) on the territory of Greece.
  2. Welcome the establishment of a new holding enterprise (the Joint Engineering Company) to immediately implement the SEP project with the participation of such strategic investors (or founders) as Vnesheconombank (VEB Capital) and Energy Investment Public Enterprise S.A. (EIPE S.A.) -a company newly established in accordance with a special legislative act of the Greek Republic and owned by the Greek Governmentin order to promote investments in infrastructure projects in the gas and other sectors.
  3. State that the mentioned Joint Engineering Company would be an owner of the SEP project and would be responsible for funding, developing, constructing, operating and maintaining the project consisting of pipelines, compressor stations and any other linear infrastructure required for its operation. Intensive work on implementing the project is to start immediately with preparing a feasibility study, engineering and other forms SEP project management.


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