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First line of Turkish Stream may cost €3.3 billion — Gazprom

June 09, 2015, 12:12 UTC+3
The Russian gas giant Gazprom has already signed gas supply agreements with Turkey's Botas and private importers of natural gas
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©  AP Photo/Marko Drobnjakovic

MOSCOW, June 9. /TASS/. The first line of the Turkish Stream natural gas pipeline project may provisionally cost 3.3 bln euro, Deputy Chief Executive Officer of the gas holding Alexander Medvedev said on Tuesday.

The figure is tentative and based on the cost of the South Stream gas pipeline providing for construction of the pipeline to Bulgaria, Medvedev said.

The South Stream project was reported earlier to be estimated at 13.2 bln euro.

Gazprom is confident there were not and could not be any risks related to construction of the first line of the Turkish Stream, Medvedev said. Gas will be supplied to Turkey over the first line, he added.

According to Medvedev, Gazprom has already signed gas supply agreements with Turkey's Botas and private importers of natural gas. The intergovernmental agreement between Russia and Turkey on the Turkish Stream construction may be signed before year end, he added. 

Infographics Russia's gas pipelines to Europe by 2018 Russia's gas pipelines to Europe by 2018

Russia's gas giant Gazprom intends to completely abandon gas supplies to Europe through Ukraine after 2018 with the help of a new pipeline to Turkey. Infographics by TASS

As TASS reported earlier on December 1, 2014 Gazprom signed an agreement with Botas on increasing Russian gas supplies to Turkey. Turkish gas importers, including Bosphorus gas and Shell, managed to receive a discount from Gazprom after tough negotiations.

In 2014, Turkey imported 27.3 bln cubic meters of natural gas from Gazprom, with the main volume being purchased by the state company Botas.

Gazprom issued an assignment to initiate the Turkish Stream gas pipeline construction work in early May. The Turkish Stream is designed to serve as an alternative to the South Stream gas pipeline project abandoned by Russia in December 2014. The larger part of the Turkish Stream pipeline will run across the Black Sea and coincide with the South Stream route approved earlier.

The Turkish Stream gas pipeline is scheduled to be commissioned in December 2016, Gazprom’s CEO Alexey Miller said earlier.

The Turkish Stream will have an annual capacity of 63 billion cubic meters, of which up to 47 billion cubic meters will be delivered to a new gas hub on the Turkish-Greek border. Gazprom Russkaya company will be in charge of the gas pipeline construction.

Gazprom held negotiations on Turkish stream with Serbia 

The deputy CEO said Gazprom held talks on continuing the Turkish Stream with Serbia.

"And what do you think - we were just drinking plum brandy?" he said, answering a question about whether the company held negotiations in Serbia on continuing the Turkish Stream."

Medvedev added there are yet no negotiations on transferring point of gas delivery to the European consumers.

Answering the question about why the delivery point on the border of Turkey and Greece is better than the border with Ukraine, Medvedev said that it is "closer to the market".

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