Gazprom revises scale of Turkish Stream project

Baku. 10 August. REPORT.AZ/ Russia’s Gazprom revises of reducing the scale of its Turkish Stream project by a much as one half of the original four-line gas network that would have carried up to 63bn m³ from its hydrocarbon fields to Turkey and Europe, Report informs referring to Kommersant newspaper.There have been persistent rumours circulating in Moscow and Ankara that two sides have failed to reach an agreement about the size of the discount Gazprom was prepared to extend to its Turkish distributors, according to Kommersant. Gazprom has now frozen its investments in the South Corridor project. Analysts are speculating that as a result, Turkish Stream may end up being a local Russian-Turkish project, with the company concentrating its efforts on adding a new pipeline to its Nord Stream distribution network under the Baltic Sea.

"Turkish Stream" would carry 63 billion cubic meters of Russian gas to Turkey and Europe per year.