Gazprom to invest 370 mln USD into Turkish Stream project in 2016

Baku. 7 November. REPORT.AZ/ Russian Gazprom intends to invest 23.5 bln RUR (approx. 370 mln USD) in Turkish Stream project in 2016.

Report informs citing the Bloomberg.

The information states that Gazprom allocated 64.673 bln RUR for the project last year.

Notably, on October 10, Russia and Turkey have signed intergovernmental agreement on Turkish Stream project. The document envisages the construction of two pipelines across the Black Sea. Turkish Stream gas pipeline would comprise stretches with anual capacity of 15.75 billion cubic meters each. One of the stretches will transport gas to the Turkish market, and the other to the European countries. Implementation of the second part will depend on the interest of Europe to Russian gas and relevant guarantee.