Putin and Erdogan launched a gas pipeline

Gazprom” on Wednesday, January 8, has commissioned the gas pipeline “Turkish stream”. The launch ceremony was attended by the presidents of Russia and Turkey Vladimir Putin and Recep Tayyip Erdogan, as well as the energy Ministers of both countries.

“Turkish stream” – a new export pipeline “Gazprom” for gas supplies to Turkey and transit through to Europe. For the first time about the project, the Russian company announced in 2015 It has become a substitute not held “South stream”. Initially four gas pipeline was supposed to stretch across the Black sea to the Bulgarian coast. But after the withdrawal of Bulgaria from the project, the route of the offshore section of the pipeline was changed, and his power is halved. The updated version of the project is envisaged on the coast of Turkey two pipelines, with a capacity of 15.75 billion cubic meters a year each.

the Construction of the offshore section of the pipeline began in 2017 Declared “Gazprom” the project cost about $7 billion considering investments in “South stream” and investments in the Serbian part of the land continuation of the second line of the “Turkish stream, the real cost of building the “Turkish stream” is about $13 billion, follows from the calculations of “Interfax” on the annual development of the investment program “Gazprom” for 2012-2019 years.

the First thread of the new export pipeline is designed to supply to the domestic market of Turkey, the second brought to the border with Bulgaria and gives the ability to export to the countries of southern and South-Eastern Europe. Route land continue the second line suggests the further transit of Russian gas through Serbia and Hungary, up to Austria. 1 January from the Ukrainian route to new export pipeline was fully transferred to exports to Bulgaria, the Bulgarian Bulgargaz message, it follows from the data monitoring platforms ENTSOG.Of 15.75 billion cubic meters of gas in the second thread “Turkish stream” 3.5 billion cubic mnaznaczeni to supply Bulgaria, 2.5 billion cubic meters – Serbia, 6 billion cubic meters – Hungary.

However, to take full advantage of the new export pipeline “Gazprom” yet will not. Download of the first leg of the “Turkish stream” will directly depend on the demand in the domestic market of Turkey, where “Gazprom” will be forced to compete with Azeri gas and LNG supplies. In I-III quarter of 2019 the supply of Russian companies in Turkey decreased by 35 percent to 11.8 billion cubic meters, compared with the same period in 2018.

to Increase supplies via the second line of the Russian company does not allow disruption of construction terms, its terrestrial continuation. Required transit capacity by the end of 2019 was completed only in Serbia, where the Russian company itself is engaged in the construction. The construction of the Bulgarian section, without which the further transit of Russian gas cannot be till may, promised the Prime Minister of Bulgaria Boyko Borisov.