MOSCOW (Sputnik) — Construction of the Turkish Stream natural gas pipeline will begin 2018 after the latest intergovernmental agreement has been signed this week, the CEO of Russia's Gazprom energy company, Alexei Miller, said Tuesday.
"According to our plan, construction itself will begin in 2018," Miller told Russia's Rossiya-24 broadcaster, noting that the agreement signed on October 10 entered into force that day.
Miller said his company would own 100 percent of the pipeline's offshore section running below the Black Sea, adding that Gazprom planned to finance the construction of its first and second legs.
A gas discount mechanism for Turkey announced by the Russian president earlier will be linked to delivery volumes, the CEO said.
President Vladimir Putin said after signing Monday's intergovernmental agreement on the Turkish Stream gas pipeline that Ankara would receive a discount.
"This mechanism is related to the volume of our gas supplies on the Turkish market," Miller said.