Cost Of Turkish Stream Estimated At 11.4 Billion Euros

- Russia’s state-owned Gazprom has estimated the cost of the construction of four pipelines for the Turkish Stream at 11.4 billion euros, with the cost of the first line construction estimated at 4.3 billion euros, according to a Gazprom executive.

“The cost of the four threads is estimated at 11.4 billion euros. The cost of the first line is estimated at 4.3 billion euros” he said. On Aug. 7, Russia sent two offers related to the intergovernmental agreements on the Turkish Stream to Turkey, he noted.

“We’ve sent two offers to Turkey, one - on one line and another - on four lines. Currently, the Turkish side is considering those offers” the Energy Ministry representative said. Two weeks ago, Russian Energy Minister Alexander Novak said Russia was ready to sign an intergovernmental agreement on one line of the Turkish Stream within one to two weeks.

“Everything will depend on the Turkish Stream, as we’ve submitted our agreement project to the Turkish side. They’re now studying it. We expect to receive their response to our suggestion,” he said. Novak added Russia expected to sign an intergovernmental agreement within the shortest possible time, adding it was ready to do so “within a week or two.”