Greece has admitted for the first time it is planning a €2bn gas pipeline with Russia.
Panayotis Lafazanis, Greece's Energy Minister, said the move would be a key part of the country's "multi-faceted" foreign policy and would create 20 000 jobs, according to reports.
Reports in April suggested Moscow was ready to provide advanced payment to Greece m3/yr metres of Gazprom's gas from 2018.
Those reports were always denied by the Kremlin, despite Greek Prime Minister Alexis Tsipras visiting Russia to hold talks with Russian president Vladimir Putin.
Mr Lafazanis, who heads up the Left Platform of Syriza, has hailed a new dawn in Greco-Russia relations and has invited the likes of state-sponsored Gazprom to drill for oil off the Greek coast.
Edited from various sources by Elizabeth Corner
Sources: The Telegraph, FT