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23 January, 2001
Greece and Turkey on Monday signed a memorandum for the construction of a two-way natural gas pipe-line connecting consumers in the European Union and Balkans with the supplies of natural gas from the Caspian Sea, Russia and the Middle East.
The Greek-Turkish memorandum, signed in Ankara, is part of the Inogate Umbrella Agreement, signed earlier by the two countries, to secure continual energy supplies to European Union member-states.
The joint desk studies of the project will be submitted to the European Investment Bank and other European Union bodies by May for approval and funding.
Greece's state natural gas company DEPA and its Turkish counterpart BOTAS were expressly noted in the agreement.
Source: Athens News Agency