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Turk Stream update: pipeline put on hold

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World Pipelines,

Gazprom – a Russian energy giant – has delayed the installation of its Turk Stream pipeline project due to Turkey’s current political crisis.

Gazprom’s Deputy CEO Alexander Medvedev stated: "Due to the fact that the installation did not begin as planned, we are no longer speaking of December 2016.”

The Turk Stream proposed pipeline intends to hold an annual capacity of 63 billion m3 running from Russia to Turkey, beneath the Black Sea.

The Russian Energy Ministry stated recently that it expected an intergovernmental deal on the pipeline, signed after Turkey forms a new government in November.

Edited from various sources by Stephanie Roker

Sources: Sputnik News, UPI, RT

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