EC analyzing Gazprom’s deal with Ankara to build Turkish Stream

Oil&Gas Materials 8 May 2015 17:36 (UTC +04:00)

Baku, Azerbaijan, May 8

By Aygun Badalova - Trend:

The European Commission is analyzing the deal that was reached between Gazprom and Ankara to build the Turkish Stream gas pipeline by the end of next year, the commission told Trend on May 8.

An agreement between Russia and Turkey has been reached on operational commissioning and the start of gas deliveries via Turkish Stream in December 2016, according to a statement released by Gazprom.

The agreement was reached during a visit of Alexei Miller, chief executive of Gazprom to Ankara on May 7.

"As regards the announcement to build a pipeline "Turkish Stream", the Commission services are analyzing such possible plans with regard to their economic viability as well as regulatory and legal feasibility and consequences," the commission's message said.

"In any case the Commission expects that all parties respect and implement all the relevant EU rules (e.g. Public Procurement and access to the network for instance) and that obligations arising from existing gas contracts are met," said the message.

The new Turkish Stream pipeline will be built across the Black Sea, stretching from Russia to the Greece-Turkey border. The first phase will provide gas to the south of Turkey, while another three lines will eventually transport gas through Greece to countries in south and central Europe.

The pipeline is expected to have a total capacity of 63 billion cubic meters.

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