Gazprom to put Turkish Stream on hold

Speaking at a Monday press-conference, Alexander Medvedev, Deputy Chairman of Gazprom, said the Turkish Stream project would be put on hold but failed to mention for how long, Reuters reports.

15 September 2015 10:20

As was reported earlier, Gazprom pledged to build the first section of the pipeline in summer 2015 and launch it by the end of 2016. However, the project never got off the ground causing Gazprom to go so far as to terminate a contract with Sipem company of Italy, a subcontractor for the project.

Earlier this summer, the Energy Ministry of the Russian Federation stated the Turkish Stream might get suspended should Moscow and Ankara fail to reach a deal on commencement of the pipeline’s construction.

For a number of years, Gazprom has been talking about building a pipeline with a total capacity of 63 billion cubic meters running through the Black Sea and bypassing Ukraine. A first seam was even welded to mark the ceremonial start of the South Stream project in 2012. However, disagreement with the EU in 2014 caused Moscow to change the pipeline’s route from Bulgaria to Turkey and call it the Turkish Stream.