Moscow and Ankara signed an agreement on Turkish Stream
Today, the Russian Federation and Türkiye signed an intergovernmental agreement on Turkish Stream. It provides for the construction of two lines of the main pipeline along the bottom of the Black Sea to the European part of Turkey and further to the border with Greece.
In addition, an agreement was reached to provide a discount on gas as part of the project.
“As part of expanding our cooperation, we also agreed on mechanisms for providing discounts on gas. Thus, we are moving towards the implementation of the Turkish President’s plans to create a large energy hub in this country,” said Russian President Vladimir Putin.
As Energy Minister Alexander Novak explained, the issue of a discount on Russian gas is not linked to the agreement on Turkish Stream. ”
The length of the sea part of the Turkish Stream should be about 910 km, the land part on Turkish territory - 180 km. The total cost of the project was previously estimated at 11,4 billion euros.
It is planned to build a gas hub on the border of Turkey and Greece, through which gas will be sent to European countries. For the construction of the gas pipeline in Russia, the previously built infrastructure of the South Stream project, which was closed due to the fault of the European Union, will be used. Unlike South Stream, the Turkish Stream gas pipeline requires less investment.
The expected capacity of each line of the Turkish Stream is 16 billion cubic meters of gas per year.
The transit capacity through the Ukrainian gas transportation system is 110 billion cubic meters. However, actual transit has been falling in recent years and in 2015 dropped to 67,1 billion cubic meters.
Russia plans to increase transit to Europe through the Nord Stream pipeline.
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