Construction of Turkish Stream to begin in 2018

By Emre Gurkan Abay

MOSCOW

The construction of the Turkish Stream pipeline project will begin in 2018, the head of Russian energy company Gazprom said Tuesday.

“The signing of an intergovernmental agreement on the Turkish Stream was the start of the project,” Alexey Miller, chairman of the Management Committee of Gazprom, said in an interview on Russian television channel Russia 24.

Russia and Turkey signed an intergovernmental agreement Monday 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.

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.

Commenting on a possible competition with Gazprom’s another mega project, North Stream 2, Miller said the two pipeline projects had completely different target markets.

The Nord Stream 2 natural gas project, which plans to deliver gas with a capacity of 55 billion cubic meters beneath the Baltic Sea through a 1,200 kilometer (745.6 mile) route to Germany, is currently at the center of political discussions in the EU.