Turkey to decide on South Stream this week

Turkey is expected to give its decision on the South Stream pipeline project this week, Turkish Prime Minister Recep Tayyip Erdogan said, ABC reports.

Turkey is discontent with the European Nabucco gas pipeline project which is to run through Turkey. The pipeline will need 30 billion cubic meters of gas annually. The source to fill the pipeline has not been found yet. There are also financial issues still to be resolved. Turkey is ready for realization of the project, unlike Europe.

Ukrainian President Victor Yanukovych visited Turkey last week. Kiev received no guarantees from Turkey that it would not allow Gazprom to build the South Stream through its maritime area in the Black Sea. That means that Ukraine’s prospects as an exclusive gas transit state for Russian gas to Europe are still uncertain.