Greek Prime Minister George Papandreou said...

Papandreou"s statement comes after he held a meeting with Russian Prime Minister Vladimir Putin in Moscow earlier on Tuesday.

"We are ready to sign the contract to set up a joint [Greek-Russian] company," he said.

Greece joined the South Stream gas project in 2008.

The South Stream gas project is part of Russia"s efforts to cut dependence on traditional transit nations while circumventing the need for the EU-backed Nabucco, which would bypass Russia. South Stream is scheduled to be completed by 2015.

Papandreou also said he saw "no obstacles" to the realization of the Burgas-Alexandroupolis oil pipeline project, given that it meets the necessary ecological standards.

Burgas-Alexandroupolis is a project between Russia, Greece and Bulgaria to pump Russian and Caspian oil from the Bulgarian Black Sea port of Burgas to the Greek Aegean port of Alexandroupolis. The three countries signed an agreement to build the 280-km (174-mile) Trans-Balkan pipeline

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