Turkish Stream: Ukraine may lose 15% of its gas transit due to new Turkish Stream project

15:46 Aug. 19, 2016

Ukraine may lose 15% of its gas transit due to new Turkish Stream project

Russian President Vladimir Putin, left, is welcomed by Turkish Prime Minister Recep Tayyip Erdogan as they arrive at the Durusu metering station, near the northern Turkish city of Samsun, Thursday, Nov. 17, 2005, for the inauguration ceremony of the Blue

15 out of 70 billion cubic meters of Russian gas being transported through Ukraine could be lost, says Naftogaz CEO Andriy Kobolev

Turkish Stream will have a negative impact on Ukraine, as it could lose a significant amount of income. At the same time, finishing the project could be difficult due to complicated and unstable relations between the countries, said Kobolev.

The project aims at providing gas transit from Russia to Turkey and further on to the rest of Europe, bypassing Ukraine. The pipeline should go across the Black sea. The agreement on constructing was reached in December 2014. However, the project was suspended in November 2015 following the deterioration of Turkish-Russian relations.

Read more Turkey and Russia announce renewing Turkish stream constructing

Recently Turkey and Russia announced the renewal of the Turkish Stream project's idle status. Russian president, Putin, said the construction would resume in the near future.

Read more Putin wants 'rock-solid guarantees' for Bulgaria's South Stream plans


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