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TurkStream pipeline update

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World Pipelines,

Currently, over 170 km of line pipe has been laid for the TurkStream project, with Russia’s Energy Minister, Alexander Novak, noting that the pipeline is progressing successfully.

Gazprom’s TurkStream pipeline project will transport Russian natural gas to Europe via the Black Sea. The first string of the pipeline is set to be in-service by March 2018.

On 2 August, US President Donald Trump signed a bill imposing sanctions on Russia, which would restrict US dealings with Russian businesses, banks and energy companies. As a result, this could potentially hinder the construction of TurkStream in terms of financing the project.

However, Novak said that the construction contracts for the project were finalized, with construction already underway. Consequently, he stated: “We believe that the project will be implemented regardless of what normative legal acts or laws are adopted.”

Additionally, despite sanctions from the US, there have been ongoing talks with European countries regarding the supply of Russian natural gas.

“We are constantly discussing these matters with countries that are interested in receiving Russian gas, including with Greece and Italy. Bulgaria is now again part of the initiative to supply gas via the country,” Novak stated.

He continued to explain that, due to Russia’s substantial amount of natural gas, the country would be more than prepared to supply to both Greece and Bulgaria.

However, he noted: “The main thing is that, first and foremost, the necessary confirmations were obtained concerning the EU and European Commission so that there were guarantees for the implementation of these long-term infrastructure projects.”

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