“Turkish stream” suddenly rose

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"Турецкий поток" внезапно подорожал

The construction of the gas pipeline “Turkish stream” has suddenly risen to one billion dollars, the cost of the project is likely to fully take on balance “Gazprom”. This was stated by the Chairman of the Board of gas monopoly Andrey Kruglov at a meeting with investors in London, reports “Interfax”.

“Previously, we said that the project will cost about six billion now, we estimate somewhere around seven billion. We do not exclude the possibility of project financing. But, given the current reality, most likely the “Turkish stream” will be financed from the budget “Gazprom””, — Kruglov told, noting that the implementation of the project, the company plans to release a special bond, a similar scheme has already been used by Gazprom in the construction of “Nord stream-1” .

In December 2017, it became known that due to the potential of sanctions from the United States, the company dramatically increased its investment in its gas pipeline projects. So, the cost of construction of the gas pipeline “Turkish stream” has grown more than twice — from 93.6 billion to 190 billion. Construction of the water portion of the pipeline began in may of 2017, the start of the supply pipeline is scheduled for December 2019.

 

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