ECONOMY


Gazprom halves TurkStream Pipeline Capacity

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Baku, October 7, AZERTAC

Gazprom has almost halved the planned capacity of its TurkStream gas pipeline project to 32 billion cubic meters (bcm) per year, Gazprom Chief Executive Officer Alexei Miller said.

He said that Gazprom now planned to supply up to 32 bcm via TurkStream because it also plans to expand Nord Stream gas pipeline, which runs on the bed of the Baltic Sea to Germany.

"Turkish Stream" project is planned to carry 63 billion cubic meters of Russian natural gas to Europe via Turkey. Turkey will use 16 billion cubic meters to meet its domestic needs, while the remaining 47 billion cubic meters will be pumped to Europe.

Russia's state-owned energy giant Gazprom estimates the cost of the construction of four pipelines of the Turkish pipeline project to be around 11.4 billion euro ($12.5 billion).

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