The construction of the Turkish Stream gas pipeline is likely to be financed from the Gazprom budget, and then financed by the issuance of special bonds, as was the case with the Nord Stream 1 project, the deputy chairman of Gazprom’s Management Board Andrey Kruglov.
“Previously, we said that the cost of the project is about $ 6 billion, now we estimate somewhere around $ 7 billion. We do not exclude the possibility of project financing. But, proceeding from the existing reality, most likely the “Turkish flow” will be financed from the budget of “Gazprom” and in the future will be refinanced in the form of issue of project bonds, “he said.
The beginning of the construction of the offshore section of the highway was May 7 – the beginning of the installation in the shallow water of the Black Sea by the ship Audacia of Allseas. Since May 7, Gazprom has laid a total of more than 520 km of the main line along two strings of the Turkish Stream gas pipeline. As it was said in the press release of “Gazprom”, currently the work is already in the economic zone of Turkey.
It is expected that the transportation of gas through the “Turkish flow” will begin in December 2019.
The Turkish gas pipeline consists of two lines. Each thread can provide transportation of natural gas in the amount of up to 15.75 billion cubic meters. m (total – 31.5 billion cubic meters). The length of the offshore section is approximately 930 km. The gas pipeline runs along the bottom of the Black Sea from the Russian city of Anapa to the Turkish settlement Kiyykey. The gas supplied by the first string is destined for the Turkish market. The second line will pass in the direction of the border of Turkey with the EU. The deepest part of the “Turkish Stream” route in the Black Sea is at around 2200 meters.
Source: Maritime News of Russia