Russia, Turkey kickstart Turkish Stream project

Governments of Turkey and Russia have greenlighted the Turkish Stream pipeline project, with the beginning of construction scheduled for 2018, after signing a relevant intergovernmental agreement, Gazprom CEO Alexei Miller said, according to Russian information agency RIA Novosti.

”An article of the agreement, which specifies the beginning of the implementation and construction of the project, enters into force upon signature … According to our schedule, construction works will start in 2018,” Miller told Russia 24 TV channel, according to the report.

Miller said the marine section of the pipeline will be owned and built by Gazprom, while the transport infrastructure on the territory of Turkey, as well as the gas receiving terminal will be built by Turkish Botas pipeline corporation.

Miller added that a joint venture would be set up to build the transit infrastructure in Turkey required for carrying out gas supplies to European consumers.

He also noted that the size of discounts on Russian gas for Turkey would depend on the volume of gas supplied to the country.

Russia and Turkey on October 10 signed the intergovernmental agreement for the implementation of the Turkish Stream project. The agreement involves the construction of two lines of gas pipelines through the Black Sea, each with a capacity of 15.75 billion cubic meters. One line is planned to supply gas directly to the Turkish market, while the other line aims to supply gas to Europe through Turkey. The construction of two lines of the offshore segment of the pipeline is planned to be finished by December 2019.

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