Gazprom to Delay Exploitation of Turkish Stream Gas Pipeline

Gazprom's deputy chairman Alexander Medvedev said that the launch of the Turkish Stream gas pipeline will be later than it was planned.

MOSCOW (Sputnik) — Russian energy giant Gazprom is delaying the implementation of the Turkish Stream gas pipeline, initially scheduled for late 2016, the company's deputy chairman Alexander Medvedev said Monday.

Turkish Stream gas pipeline construction was expected to begin in June, but the governments of Russia and Turkey have not yet signed a formal agreement.

"Due to the fact that the installation [of the pipeline] did not begin as planned, we are no longer speaking of December 2016," Medvedev told reporters, asked about a possible postponement.

The Turkish Stream is a proposed pipeline with an annual capacity of 63 billion cubic meters that 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 could be extended to southern Europe.

Earlier in September, the Russian Energy Ministry said it expected an intergovernmental deal on the Turkish Stream gas pipeline to be signed after a new government is formed in Turkey in November.