The construction of a natural gas pipeline that will run beneath the Black Sea linking Russia with Bulgaria, Greece and Italy has far-reaching implications. The construction of the new oil pipeline connecting the Bulgarian Black Sea port of Bourgas with the Greek port of Alexandroupolis as well as of the Turkey-Greece-Italy pipeline has turned Greece into a key player in energy issues. The new pipeline will make Greece an energy hub in the southern European region.

The main advantage of the new pipeline is that it will allow Greece to diversify its natural gas sources. The end of Greece’s dependence on Turkey has obvious political ramifications. This is after all one of the reasons behind Moscow’s willingness to advance the specific pipeline project. When it comes to supplying southern Europe, the Russians would not like to put all their eggs into that one Turkish basket.