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2015-08-11 18:15:00

TURKISH STREAM: €11.4 BLN

TURKISH STREAM: €11.4 BLN

Russian energy giant Gazprom estimates the cost of constructing the first branch of the Turkish Stream pipeline at €4.3 billion ($4.72 billion), while the overall price tag for all four legs of this project are estimated at €11.4 billion, First Deputy Head of Gazprom's Project Management Department Aleksei Serebryakov said Monday.

"The total cost [of the Turkish Stream pipeline] is currently estimated at €11.4 billion excluding VAT. The cost of the first branch of the gas pipeline will be about 4.3 billion euros excluding VAT," Serebryakov said on a conference call with investors.

In July, a source in the Russian Energy Ministry told journalists that Russia had sent a proposal for the construction of the first branch of the gas pipeline to Turkey.

The Turkish Stream will have an annual capacity of 63 billion cubic meters and will run from Russia to Turkey beneath the Black Sea. The pipeline will continue to a hub on the Turkish-Greek border, from where it would be extended to Southern Europe.

The Turkish Stream gas pipeline was launched as a replacement to the South Stream pipeline project that Moscow cancelled in December 2014, citing the "non-constructive" stance of the European Union on the issue.

trend.az

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More: 

GAS: EFFECTIVE WEAPON  

ВОЗМОЖНОСТИ ГАЗПРОМА 

GAS: FROM RUSSIA WITH LOVE 

RUSSIAN - TURKISH STREAM 

GAS PIPELINE GAMES 

GOLDEN AGE OF GAS 

EU GAS STRATEGY 

RUSSIA'S GAS ADVANTAGE

 

Tags: TURKISH, STREAM, GAZPROM, RUSSIA

Chronicle:

TURKISH STREAM: €11.4 BLN
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

TURKISH STREAM: €11.4 BLN
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

TURKISH STREAM: €11.4 BLN
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

TURKISH STREAM: €11.4 BLN
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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