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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
October, 16, 11:50:00

SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

TURKISH STREAM: €11.4 BLN
October, 16, 11:45:00

SAUDI'S BANKS ARE BETTER

But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.

TURKISH STREAM: €11.4 BLN
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

TURKISH STREAM: €11.4 BLN
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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