Gazprom Plans to Build New Black Sea Gas Pipeline to Turkey: CEO

New pipeline with annual capacity of 63 bln cubic meters will deliver Russian natural gas to Turkey.

ANKARA, December 1 (Sputnik) — Gazprom will set up a legal entity for construction of a new pipeline with annual capacity of 63 billion cubic meters to deliver Russian natural gas to Turkey and customers in Southern Europe, CEO Alexey Miller said Monday.

"Gazprom and [Turkey's] Botas company signed today a memorandum of understanding on the construction of a Black Sea gas pipeline to Turkey with annual capacity of 63 bln cubic meters," Miller, who accompanies President Vladimir Putin on an official visit to Turkey, told reporters in Ankara.

"A total of 14 bln cubic meters will be supplied to Turkey… while the rest will be pumped to a hub on the Turkish-Greek border [to be delivered to customers in Southern Europe]," Miller said.

While the pipeline will be registered as a Russian company, Miller said that Gazprom will “consider offers from Turkish partners if they express an interest in buying into [the project].”

Earlier on Monday, Russian President Vladimir Putin said that Russia would soon increase gas deliveries to Turkey by three billion cubic meters a year via the Blue Stream, an already operating pipeline running across the Black sea, following the request from Turkish authorities in light of the country's growing energy needs.

Putin added that Russia would create an additional gas hub in Turkey, on the border with Greece, for the gas consumers in Southern Europe.