Eustream's Eastring pipeline will run from Bulgaria to Romania and then, via Hungary or Ukraine, to Slovakia.
Mirek Topolanek said that the Eastring and the Turkish Stream would be "in no way" competing projects. "On the contrary, they can complement each other and be mutually useful," he said.
He said that Russian gas, delivered via the Turkish Stream to Turkey, can then continue its way to Western Europe through Eastring.
The Eastring pipeline would also provide Central and Western Europe with access to gas from Iran, Iraq and Israel.
Eastring will be capable of transporting 20 billion cubic meters of gas annually. Later, the capacity may be increased to 40 billion cubic meters. Its total length will range between 832 and 1,015 kilometers (517 to 631 miles).
The pipeline project is estimated to cost 1.3 billion euros (nearly $1.5 billion) and is expected to become operational in late 2018.