REUTERS
The CEO of Russian gas giant Gazprom Alexei Miller said on Thursday that agreements have been achieved on gas supplies through the Turkish Stream, bypassing Ukraine, in December 2016.
"We've had very constructive and important talks. Agreement was reached on the beginning of commissioning and supply of gas through the Turkish Stream in December 2016," Miller said following talks with Minister of Energy and Natural Resources of Turkey Taner Yildiz in Ankara, the company’s press office has reported.
Miller and Yildiz discussed supplies of Russian gas to Turkey, the modernization of the Blue Stream gas pipeline and the implementation of the project on the construction of a new gas pipeline from Russia to Turkey via the Black Sea.
It was reported at the meeting that in the first four months of 2015 Russia supplied about 5.4 billion cubic meters of gas to Turkey through the Blue Stream, which is 4% higher than during the same period last year. It was also noted that natural gas consumption in the country over the past 10 years has increased by more than two times, and the Turkish market is interested in further increase in energy exports by Russia.
Turkey is the second largest market for Gazprom after Germany. In 2014, Gazprom exported to Turkey 27.4 billion cubic meters of gas. Current supplies of Russian gas to Turkey are carried out through Blue Stream and Trans-Balkan gas pipelines.
The Blue Stream gas pipeline has the capacity of 16 billion cubic meters per year and runs under the Black Sea, ensuring direct gas supplies to Turkish consumers.
On December 1, 2014 Russian Gazprom and Turkish company Botas signed a memorandum of understanding on construction of a gas pipeline with the capacity of 63 billion cubic meters of gas annually from Russia to Turkey via the Black Sea.