Serbian President Aleksandar Vucic said Wednesday that the TurkStream gas pipeline project is crucial for the economic progress of his country.
Speaking at the project's opening ceremony in Istanbul, Vucic said: "The Turkish Stream gas pipeline has great importance for the future of Serbia, for attracting investments and for the further economic and industrial progress of the country."
He said the pipeline will allow Serbia to purchase gas at lower prices than before.
"The construction of a 403-kilometer gas pipeline through Serbia brings gas to Vladicin Han, Ljubovija, Bajina Basta and other places subsequently increasing industrial growth."
Vucic said he expects the pipeline to be connected to Serbia by the second half of this year.
Turkey's President Recep Tayyip Erdogan and Russia's President Vladimir Putin also attended the ceremony.
The TurkStream project consists of two lines with a total capacity of 31.5 billion cubic meters (bcm) per year. The first line will carry 15.75 bcm of Russian gas to Turkish consumers every year, and the second line will carry another 15.75 bcm from Russia to Europe via Turkey.
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