Today CEO of Gazprom Alexey Miller informed about halving the gas pipeline project Turkish Stream. According to his estimate, the power project won’t exceed 32 billion cubic meters of gas per year.
"We pay great attention to the South direction in the framework of our strategy of diversification of transport routes. Now we can say that the capacity of the Turkish Stream gas pipeline could be up to 32 billion cubic meters of gas, taking into account the decisions that we have taken in the North. Soon we will start working according to this realistic position in negotiations soon,’’ Interfax cites her as saying.
Recall that at the moment, Gazprom stopped considering the Turkish Stream project a priority in the expansion project of the gas transportation system. Increase of gas supplies to the Russian south is paramount. According to Miller, 32 billion cubic meters correspond to two of the originally planned four ‘threads’ of the pipeline.
The Deputy Director of the Energy Institute for Energy and the Direction of Finance, Alexey Belogoriev, tied this decision to the European position in respect of the Russian pipeline projects.
‘‘The point is that the Commission isn’t ready to agree on gas supplies from the Turkish border to the EU, even if Gazprom will finance the construction of infrastructure in Greece, Macedonia and Serbia itself. The issue of gas supplies with the use of the Turkish Stream is an even more complicated matter than the Southern Stream, from the viewpoint of the political agreement by the European Commission. They understood the deadlock after the Turkish Stream had been announced. "So the only customers are the Turkish market and its consumers,’’ he noted above all.
The expert also added that the Turkish Stream is beneficial for Ankara. "If Russia stops gas transit through the Trans-Balkan gas pipeline it is easier for Turkey to build a Turkish Stream rather than the second stage of the Blue Stream, as they have different customers.
‘‘I'd like to note that Gazprom cannot reject the Turkish Stream, because it is almost built. Not everything is about to be completed, but the project is in a very high degree of readiness. Its land portion, which supplies gas to the Black Sea coast, the so-called Southern Corridor, which is located on the territory of Russia, is ready to supply 63 billion cubic meters of gas annually. It has been being built since 2011.
In any case, Gazprom is needed to supply it. That is why the company is building pipelines near the coast of the Black Sea and completing the construction of the Blue Stream, as well as building the Turkish Stream in order compensate its expenses. In any case, they won’t be able to use them at full capacity, as they have no customers. This fact means apparent losses,’’ the expert said.
