Gazprom CEO: Historic Turkish Stream pipeline deal SIGNED

Gazprom CEO: Historic Turkish Stream pipeline deal SIGNED
Russian President Vladimir Putin (L) shakes hands with Turkish President Tayyip Erdogan during their meeting in Istanbul, Turkey, October 10, 2016. © Alexei Druzhinin / Reuters

Gazprom CEO Alekey Miller says Russia and Turkey will sign an intergovernmental agreement on the Turkish Stream gas pipeline Monday.

  • Turkish Stream project agreement envisions the construction of two branches of the gas pipeline.
  • Capacity of each of the branches will be 15.75 billion cubic meters (bcm) of gas.
  • First branch will supply gas directly to Turkey, while the second is to be used to deliver gas to European countries through Turkey.
  • Miller: “The intergovernmental agreement would also define the deadline by which the two maritime threads are to be built. It’s December 2019.” 
  • Pipeline would allow Russian natural gas to be delivered directly to Turkey via the Russian Black Sea coast and on to Greece.
  • Projects estimated total cost: €11.4 billion (US$12.7 billion), 
  • Project announced in December 2014 during Putin’s visit to Turkey as an alternative to the canceled South Stream route through Bulgaria.
  • Russia suspended the project after the downing of a Russian jet by the Turkish Air Force in November 2015.
  • Project revived in August after Turkey publicly apologized for the incident.

 

(WASHINGTON, DC) An intergovernmental agreement on the Turkish Stream pipeline will be signed on Monday after talks between Vladimir Putin and Recep Tayyip Erdogan in Istanbul, Gazprom head Aleksey Miller said.

According to Miller, the Turkish Stream project agreement, which envisions the construction of two branches of the gas pipeline, will be signed in the presence of the two leaders.

The capacity of each of the branches will be 15.75 billion cubic meters (bcm) of gas, he said.

The first branch will supply gas directly to Turkey, while the second is to be used to deliver gas to European countries through Turkey, the Gazprom CEO explained. 

“The intergovernmental agreement would also define the deadline by which the two maritime threads are to be built. It’s December 2019,” Miller said.

During his speech at the 23rd World Energy Congress earlier on Monday, Putin said that he and President Erdogan had thoroughly discussed the joint Turkish Stream pipeline ahead of the visit, saying they “intend to implement” the project.

The pipeline would allow Russian natural gas to be delivered directly to Turkey via the Russian Black Sea coast and on to Greece.

The project, with an estimated total cost of €11.4 billion (US$12.7 billion), was announced in December 2014 during Putin’s visit to Turkey as an alternative to the canceled South Stream route through Bulgaria.

But after the downing of a Russian jet by the Turkish Air Force in November 2015, Russia suspended the project. It was revived only after Turkey publicly apologized for the incident this August.

 This article was contributed by RT

Please contact TRUNEWS correspondent Edward Szall with any news tips related to this story.
Email: Edward.Szall@trunews.com | Twitter: @EdwardSzall | Facebook: Ed Szall 
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