Turkey to get Russian gas via new line in 2016

Russia’s top natural gas producer Gazprom said on Thursday it had reached an agreement with Turkey to start gas supplies via the planned Turkish Stream pipeline in December 2016.

The announcement is a breakthrough for Gazprom because Turkey had earlier expressed concern over being too dependent on Russian energy supplies. Turkey has also been in talks with Russia over a gas price discount. Gazprom Chief Executive Officer Alexei Miller met Turkey’s Minister of Energy and Natural Resources Taner Yildiz in Ankara on Thursday, Gazprom said in a statement. quotazprom will base today’s agreements on the schedule of work on Turkish Stream,quot Miller said in a statement. Gazprom started working on the Turkish Stream pipeline after it abruptly abandoned the South Stream project in December, citing objections from Europe. South Stream was designed to connect the Russian gas pipeline system with Bulgaria and southern Europe via the Black Sea. Gazprom plans to supply up to 63 billion cubic meters (bcm) of gas per year via Turkish Stream and create a gas hub on the Turkish border with Greece, through which it wants to transit 47 bcm annually.

SOURCE: TODAY’S ZAMAN