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From Russia with love: Gazprom will supply gas to Europe through the pipeline “Turkish Stream”

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From Russia with love: Gazprom will supply gas to Europe through the pipeline “Turkish Stream”
June 02
09:00 2017

Gazprom issued a press release, which reported on the signing of a trilateral agreement (Gazprom, the Greek company DEPA, the Italian company Edison). The organization of gas supplies to European countries through the so-called “Turkish Stream” became the subject of the agreement. The route of blue fuel supplies will pass through Turkey, Greece and Italy. The companies DEPA and Edison committed to control the construction of a gas pipeline from the Turkish-Greek border to the border with Italy (the pipeline will be called Poseidon). The ambitious Poseidon project (named after the stern sea god of Ancient Greece) will allow connecting the gas transmission systems of Greece and Italy.

A week earlier it became known that the construction of the gas pipeline in the Black Sea had begun. The company Gazprom (through its subsidiary South Stream Transport B.V.) chartered two vessels for offshore operations: Allseas-owned ship The Audacia for offshore operations and The Pioneering Spirit ship for operation in the deep waters of the Black Sea.

Alexei Miller reports that the implementation of the project is going according to the plan and will be completed in about two and a half years. Thus, gas without any transit will be delivered to Turkey and the countries of South and South-Eastern Europe. Each branch of the future gas pipeline will stay up with the load of 15.75 billion cubic meters of gas per year.

The material was prepared with the participation of  Marina German,
a leading analyst of the brokerage company CT Trade

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