Construction of Russia’s gas pipeline to Turkey going full steam ahead - RUSSIA TODAY

31 Aug, 2017 13:18

Gazprom said on Thursday 220 kilometers of the gas pipeline to Turkey has been laid under the Black Sea.

“The sea part of the project has seen 220 kilometers of two lines of pipes being laid,” said Gazprom CEO Aleksey Miller.

The Turkish Stream or TurkStream pipeline has been under construction since May this year. The pipeline will go from Russia’s Black Sea coast beneath the sea to Turkey, and extend to the border with Greece.

It will see two lines; the first will be for the Turkish market, the second for gas to the countries of South and South-Eastern Europe. Each line has a capacity of 15.75 billion cubic meters per year.

Hungary & Gazprom agree gas supplies via Turkish Stream pipeline - RUSSIA TODAY

5 Jul, 2017 14:53

Russian energy major Gazprom has signed an agreement with Hungary to deliver gas via the Turkish Stream pipeline, the MTI news agency reported, citing Hungary’s Foreign Minister Peter Szijjarto.

He said the Turkish Stream branch to Hungary would be completed by the end of 2019. Budapest sees Turkish Stream gas supplies as the best option because other routes, across Romania and Croatia, are at an early stage, the foreign minister added.

"This will improve Hungary's energy security a great deal, so it is in our strategic interest for this cooperation to start," said Szijjarto.

Gazprom may exit domestic Turkish natural gas market - RUSSIA TODAY

Pioneering Spirit, the vessel to construct the offshore part of the Turkish
Stream gas pipeline passes Istanbul on May 31, on the way to Russia 

28 Jun, 2017 09:43

Russian gas monopoly Gazprom is expected to leave the Turkish market and will concentrate on gas sales to Turkey, reports business daily Kommersant.

Gazprombank is completing the withdrawal from Promak, a company which owns a 60 percent stake in the two importers of Russian gas to Turkey - Enerco and Avrasya, the newspaper writes.

Gazprom Deputy Chairman Aleksandr Medvedev said the company plans to sell another Turkish asset - Bosphorus Gaz.

According to Medvedev, the Turkish market is "unpredictable" and loses appeal due to the weakening of the lira and regulated tariffs. Kommersant’s sources in the industry said Bosphorus lost about €100 million in 2016.

Israel bolsters maritime defense in offshore oil and gas zone - RUSSIA TODAY

19 Jan, 2017 13:36

Photo: Israeli navy patrol vessels take part in a drill simulating the targeting of an infiltrated enemy vessel and the evacuation of a patrol boat, in the Mediterranean Sea off the coast of Ashdod, southern Israel November 8, 2016. © Amir Cohen / Reuters

Tel Aviv is increasing spending on the Navy to protect its offshore oil and gas deposits better and secure a large maritime area neighboring Lebanon, Reuters reports.

The agency says the Israeli defense ministry is not disclosing the information about the new financing, but in 2013 the Navy asked for a $700 million budget increase and an additional $100 million every year to maintain a larger force.

Russia needs EU guarantees to extend Turkish Stream to Europe - RUSSIA TODAY

Published time: 25 Oct, 2016 14:30

Moscow has become more wary about doing gas deals with Brussels after the EU blocked Russia's South Stream pipeline, according to Russian Foreign Minister Sergey Lavrov.

"After the failure of South Stream, we will be ready to extend Turkish Stream to the territory of the European Union only after we received an unambiguous formal paper that guarantees the implementation of this project," Lavrov said on Tuesday, speaking to European businessmen in Moscow.

Lavrov stressed that, according to experts, "in the foreseeable future it will be very difficult for EU countries to live without Russian energy resources.”

An agreement to build the Turkish Stream pipeline was reached in December 2014. It was assumed the pipeline would replace South Stream that had been blocked by the EU.