ISTANBUL, November 19. /TASS/. Gazprom has completed the construction of the offshore section of the Turkish Stream gas pipeline. The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan took part in the completion ceremony in a video conference mode, a TASS correspondent reported.
Putin gave the command to complete the construction of the Turkish Stream. After that CEO of Gazprom, Alexey Miller, ordered the Pioneering Spirit vessel to lower the gas pipeline pipe with a closing joint into the water.
Gazprom began construction of the offshore section of the Turkish Stream gas pipeline in May 2017. The pipeline with a length of 930 km runs along the bottom of the Black Sea to the coast of Turkey. Further, a land section will stretch for 180 km to the border of Turkey with neighboring countries.
Turkey is Gazprom’s second largest export market after Germany. Currently, Russian gas supplies to Turkey are carried out through the Blue Stream gas pipeline and the Trans-Balkan corridor.
In 2017, Gazprom exported a record volume of gas to the Turkish market - 29 bln cubic meters, which is 17.3% more than in 2016.
The first line is intended for the Turkish market, the second - for gas supply to the countries of South and South-Eastern Europe. The capacity of each line reaches 15.75 bln cubic meters of gas per year.
The first gas supplies are planned for the end of 2019. Construction of a sea section of the gas pipeline is carried out by South Stream Transport B.V. (100% subsidiary of Gazprom).
In May 2018, Gazprom and the Turkish government signed a protocol on the land section of the Turkish Stream. In addition, Gazprom and Turkey’s Botas signed an agreement setting the main conditions and parameters for the construction. Turkakim Gaz Tasima A.S., a joint venture the two companies are to set up on a parity basis will be in charge for the construction.
Gazprom considers Greece, Italy, Bulgaria, Serbia and Hungary as potential markets. The Russian company estimates the total construction costs of the Turkish Stream gas pipeline at 7 bln euros.