• Cost: $15.1 billion (estimated)
• Timeframe: 2017 – 2019 (first phase)
After years of development, followed by a period of political uncertainty, Russia and Turkey have finally re-agreed to push ahead with the Turkish Steam pipeline. The decision was reached at 2016’s World Energy Conference (WEC) in Istanbul. 909 kilometres of new pipeline will travel beneath the Black Sea, linked to 177 miles of onshore pipes, transporting gas from Russia via Turkey to Europe.
The project, which has been in the planning stages since 2014, is expected to reach deliverability of 63 billion cubic metres of natural gas annually once operational. Gazprom expects total costs on the project to reach $15.1 billion.
Alexi Miller, Gazprom’s chairman, stated the first phase of undersea pipe laying could be completed as early as 2019. Gazprom will be working alongside Turkey’s BOTAS to complete the project. BP’s CEO Bob Dudley, speaking at the WEC, also expressed his eagerness to get involved with the Turkish Stream, citing the pleasing results of BP’s involvement on another Turkish-involved project – TANAP, the Trans Anatolian Natural Gas Pipeline.