MOSCOW (Sputnik) – Russia’s energy giant Gazprom and the Turkish authorities are finalizing negotiations on the construction of the overland portion of the Turkish Stream gas pipeline project, Gazprom’s head of the International Business Department said Friday.
“We are currently finalizing the negotiations and are engaged in the signing of protocols between the Turkish Republic and Gazprom on the construction of overland stretch on the Turkish territory, which is necessary to transport gas from the underwater part of the leg to the EU gas transportation system,”
Pavel Oderov said during a round table held within the framework of the 86th Izmir International Fair.
Gazprom, in cooperation with Turkey’s state-owned crude oil and natural gas pipelines and trading company BOTAS, is creating a joint company that will focus on the activities at the overland stretch of the pipeline, the company’s official added.
Given the current pace of construction, the gas pipeline will become operational by the end of 2019, Oderov noted.
The Turkish Stream project was announced in late 2014 by Russian President Vladimir Putin during his state visit to Turkey. In October 2016, Moscow and Ankara signed an intergovernmental agreement envisioning the construction of two underwater legs of the pipeline in the Black Sea. The annual capacity of each leg is estimated to reach 15.75 billion cubic meters of natural gas.