Turkish Stream gas pipeline to become operational in December 2016

Russian group Gazprom agreed Thursday that gas supplies to Turkey via Turkish Stream pipeline new pipeline will begin in December 2016.

Two sides also agreed to upgrade the current pipeline Blue Stream, which transports natural gas from Russia to Turkey under the Black Sea.

At the end of last year, Gazprom announced that it has decided to abandon the South Stream gas pipeline project, and build instead an undersea pipeline with a capacity of 63 billion cubic meters for transportation of natural gas from Russia to Turkey.

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In the last decade, natural gas consumption in Turkey has doubled while Russia is interested in increasing its exports to Turkey. But Russian gas to Turkey competes with the one delivered by Azerbaijan. In March this year, Turkey formally launched the construction work on TANAP gas pipeline, a 10 billion euros project which will allow the European Union to be served with gas supplies from Azerbaijan.

Russian group Gazprom, the world’s largest producer of natural gas, provides one third of Europe’s gas supplies and half of these deliveries are currently going through Ukraine.