Turkish Stream pipeline may be extended in Europe

Balkan countries may sign a memorandum on extension of Russian energy company Gazprom's Turkish Stream pipeline project

Photo by: Reuters
Photo by: Reuters

The Turkish Stream is planned to lay out a total of 660 kilometres of pipelines through the old South Stream route beneath the Black Sea

Russian media reported on Wednesday that Serbia, Macedonia, Hungary and Greece would agree to extend Turkish Stream pipeline from Turkey to Austria.

The Russian Vedomosti newspaper said that Greece could extend the pipeline to Italy.

Foreign ministers of Balkan states and Greece are to meet in September to make a final decision about extending the pipeline which would pass through the Balkan countries and Greece to reach the Baumgarten gas hub in Vienna.

The Turkish Stream project is an alternative pipeline which is planned to bring natural gas to Europe through Turkey, bypassing Ukraine, with an aim of pumping 63 billion cubic metres (bcm) of gas per year - 47 bcm of which will be delivered to Europe - by 2020.

Russia has promised hundreds of millions of dollars in transit payments annually to both Turkey and Greece while Turkey will use 15.75 bcm of gas for it own consumption.

Turkey and Russia are deemed to be economic partners and their trade volume is estimated around $35 billion which was aimed to be increased to the level of $100 billion as of 2020.

The pipeline was announced in December 1, 2014, during Russian President Vladimir Putin’s visit to Turkey as an alternative to the canceled South Stream pipeline project which was due to deliver natural gas to Europe via Bulgaria.

TRTWorld and agencies