-Turkish-Russian energy cooperation strengthens with TurkStream
The TurkStream natural gas pipeline started operations following the opening ceremony, which was held last week and attended by Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin.
The dual-pipeline with a total annual capacity of 31.5 billion cubic meters will carry Russian gas across the Black Sea to Turkey and also via Turkey to Europe.
Meanwhile, Sergey Makogon, chairman of the Ukrainian Gas Transmission System Operator Company, said that Russian gas shipments through Ukraine would decrease by 15 billion cubic meters annually due to the TurkStream pipeline.
Makogon noted that Russian gas delivered through Ukraine has declined since Jan. 1, depriving the country of annual earnings of $450 million.
“The Russian gas transit via Ukraine will decrease by 15 billion cubic meters this year,” he said.
Russian experts concur that the launch of the strategically important TurkStream project could mean further bilateral cooperation between Russia and Turkey extending to new areas, such as in the East Mediterranean region.
Both Turkey and Russia started exploration activities in the region, while other neighboring countries in the East Mediterranean, such as Israel, Greece, Egypt and Libya, have also have taken similar steps.