Oil & Gas | National Investor Network

Gazprom opens up a new route for Russian gas exports to Europe

Written by Jennifer Delay Iacullo | Jan 10, 2020 2:18:37 AM

Gazprom has officially launched TurkStream, an underwater pipeline network connecting Russia and Turkey. The new system, which follows an east-west route across the bed of the Black Sea, gives the state-controlled Russian company another option for natural gas shipments to Europe.

TurkStream consists of two pipeline strings, each with a throughput capacity of 15.75 billion cubic metres per year. The first string will deliver gas to Turkey’s domestic market, and the second will use Turkish territory as a transit route to the European market.

The new pipeline system is not yet connected to the wider European gas grid. However, Bulgaria’s state gas transportation concern, known as Bulgartransgaz, is due to establish a link by the end of this year.

Russian President Vladimir Putin, who attended the ceremony marking the pipeline project’s debut on January 9, said he expected the project to benefit all of the parties involved. “Supplies of Russian gas through the TurkStream [line] will certainly be of great importance not only for the economy of Turkey and the Black Sea region, but will also have a positive impact on the development of many South European countries and will also contribute to improving the energy security of Europe in general,” Russia’s Prime news agency quoted him as saying.