Gazprom plans talks on ‘western route’ supplies in China soonBusiness & Economy September 20, 15:59
Russian Emergencies Ministry ready to send rescue workers to quake-stricken MexicoWorld September 20, 15:48
Moldova’s breakaway republic requests observer status at UNWorld September 20, 15:21
No Russian president will let Crimea secede from Russia in future — ex-German chancellorWorld September 20, 15:06
Russia, Algeria discuss possible deliveries of SSJ-100 aircraft and MC-21Business & Economy September 20, 14:52
Kremlin: Support for fictitious 'successor’ in poll shows Russians trust Putin’s HR policyRussian Politics & Diplomacy September 20, 14:49
Belarusian president comments on military cooperation with RussiaMilitary & Defense September 20, 14:24
Kremlin brands actor Morgan Freeman ‘victim of emotionally-charged, self-exalted status’Russian Politics & Diplomacy September 20, 14:07
Kremlin expects Lithuanian president to change view on Zapad-2017 drillsRussian Politics & Diplomacy September 20, 13:46
ISTANBUL, October 10. /TASS/. Efficiency of the European branch line of the Turkish Stream gas pipeline project depends on thorough assessment of future European needs, Executive Director of the International Energy Agency Fatih Birol told TASS on Monday.
"Russia in my view needs to give a second look to its gas policy. As far as Europe is concerned, Russia is facing three important challenges. One - lots of energy will be coming from the US, Australia and Asia in the next few years. Secondly - renewable costs are declining and thirdly - as a result of efficiency policy we are seeing that demand for natural gas is not that high," Birol said.
"Therefore before suggesting selling gas to Europe, one should look that there is significant market opportunity and this will be viewed in the context whether or not Russia should review its perspective for Europe and provide more flexible contracts to Europe," Birol added.
The Turkish Stream pipeline was announced by the Russian authorities in December 2014 as a replacement for the South Stream pipeline. It was planned that the marine section of Turkish Stream would comprise four lines with the capacity of 15.75 bln cubic meters each. The pipeline is to run 660 km in the old South Stream corridor and 250 km in the new corridor in the direction of the European part of Turkey. The project’s total cost was estimated at 11.4 bln euro, with the cost of the first line amounting to 4.3 bln euro.