Russian Energy Minister Alexander Novak and Greek Energy Minister Panagiotis Lafazanis have signed a memorandum in the framework of the St. Petersburg International Economic Forum on cooperation in the construction and use of a gas pipeline on the territory of Greece, an Interfax correspondent reported from the signing ceremony.

The document stipulates the creation of a joint venture - the operator, Yuzhnoevropeisky Gazoprovod (South European Gas Pipeline), which will be controlled by the parties on a 50-50 basis. Russia will provide aid in the financing of the project, Novak said during the signing.