Russia to Supply Turkey Gas in 2016

Russia to Supply Turkey Gas in 2016

Russian energy giant Gazprom announced Thursday that its new gas pipeline project Turkish Stream, supplying Russian gas to Turkey, will start operating in December next year.
"An agreement has been reached on putting the Turkish Stream into service and starting gas supplies in December 2016," Gazprom chief Alexei Miller was quoted as saying in a company statement after meeting Turkish Energy Minister Taner Yildiz in Ankara, the Middle East Online reported.
The Turkish Stream pipeline unveiled by Russian President Vladimir Putin in December 2014 will stretch around 1,100km to Turkey's border with Greece, via the Black Sea.
The pipeline is designed to offer an alternative route to shipping Russian gas via Ukraine. It replaces a scrapped plan to build a South Stream pipeline under the Black Sea to Bulgaria to supply southern Europe while skirting Ukraine.
Putin axed the South Stream plan in December as relations with Brussels nosedived over Moscow's actions in Ukraine. Gazprom has signed a preliminary accord with Turkey's state energy firm Botas on building the Turkish Stream pipeline with a capacity of 63 billion cubic meters, the same as the defunct South Stream project.
Russia plans to turn Turkey into a major transit hub for its gas heading to European countries, replacing its neighbor Ukraine. Russian media reported in March that negotiations between Moscow and Ankara on the price of the piped gas were deadlocked, possibly delaying the project.
In Turkey, Russian gas will compete with that supplied by the energy-rich Azerbaijan.

Short URL : http://goo.gl/c4Xhol

You can also read ...

Saipem Wins $850m Kuwait Refinery Deal
Italy-based Saipem, a leading oil and gas contractor, has won...
Boosting output from joint oilfields with Iraq and the oil layer of South Pars Gas Field is high on the agenda.
Oil Minister Bijan Namdar Zanganeh said attracting foreign...
JPC Making Headways in Polymer Production
Jam Petrochemical Company in southern Iran has succeeded in...
New petrochemical ventures require over $70 billion in investments.
Opening economic gateways to foreign investment is the only...
Aramco’s value can drop to as low as $375 billion.
The impending initial public offering of shares in Saudi...
Turkish Stream Pipeline Underway
The Turkish Stream gas pipeline project will be implemented on...