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Turkish Stream will not compete with Nord Stream 2 in Europe — Gazprom

October 11, 12:09 UTC+3
Russia and Turkey have signed an intergovernmental agreement on the Turkish Stream project on October, 10
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© EPA/FILIP SINGER

MOSCOW, October 11. /TASS/. Gas deliveries via the Turkish Stream pipeline towards Europe will not provide competition for Nord Stream 2 supplies, Chairman of Gazprom's Management Committee Alexey Miller said in an interview aired by the Rossiya-24 TV news channel on Tuesday.

"The gas to be delivered to the Turkish market via the Turkish Stream will not compete with the Russian gas to be delivered to Europe via the Nord Stream 2," he said.

The intergovernmental agreement on the Turkish Stream project on natural gas pipeline construction becomes effective upon signature, Chairman of Gazprom's Management Committee Alexey Miller said in an interview aired by the Rossiya-24 TV news channel on Tuesday.

"The provision on the beginning of the project’s implementation enters into force upon being signed," he said.

Earlier this week Russia’s energy minister Alexander Novak and Turkey’s minister of energy and natural resources Berat Albayrak signed the intergovernmental agreement on construction of the Turkish Stream gas pipeline.

The Turkish Stream project envisages the construction of a natural gas pipeline via the Black Sea to the European part of Turkey to be further extended to the border with Greece. The seabed section is about 910 kilometers and the mainland section through Turkey is 180 kilometers. Previously the project was estimated at €11.4 bln.

Poseidon project

Gazprom plans to hold talks with its European partners on Poseidon project by the end of this year.

"We’re planning to start the talks in November-December," he said, adding that "the conversation will be specific and meaningful."

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