An agreement for the “Greek pipeline” of natural gas may be signed in Athens by Greek and Russia as early as next week, says RIA-Novosti Russian news agency. The Russian agency quoted Greek Productive, Reconstruction, Environment and Energy Ministry officials in its article.

The new pipeline is scheduled for December 2016. The Greek section of the pipeline will connect to a pipeline delivering Russian gas to Turkey and southern Europe. The agreement would be signed between Energy Minister Panagiotis Lafazanis and Energy Minister Alexander Novak.

The Greek section of the pipeline is estimated to cost as much as 2 bln euros. It will run from the Greek-Turkish borders to the borders of the Former Yugoslav Republic of Macedonia and will then extend to Serbia and Hungary. The pipeline will end in Austria.