Turkey has suggested that its Russian partners name the new Black Sea gas pipeline from Russia "Turkish Stream", Gazprom Deputy CEO Alexander Medvedev said.
“South Stream already will not be built; another project will be implemented, a name for which will be found in the near future. The Turkish side suggested that it be called “Turkish Stream”. So we’ll see,” he said.
Medvedev did not answer a question about why the pipe laying vessel Castoro Sei, three weeks after the official cancellation of the project, was still at the port of Burgas. “The vessel needs to stay somewhere,” he said.
“Soon big things will take place with regard to this project, and then we will talk,” Medvedev said.
At the same time as the cancellation of the South Stream project, Gazprom announced plans to build a pipeline with the same capacity, 63 billion cubic meters a year, not to Bulgaria (a member of the EU), but to Turkey. A fourth of the capacity of the new pipeline will be designated for the Turkish market, offsetting volumes that are now being transported through Ukraine and the Balkans. Approximately 50 bcm will go to a hub on the border of Turkey and Greece, and European buyers interested in these volumes will be able to buy them there. The project company for the new route will be called Gazprom Russkaya.
