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Monday, April 3, 2017

Gazprom Increases Supplies to Possible Turkish Clients

Gazprom increases supplies to possible clients of Turkish Stream pipeline


April 02, 13:59UTC+3

During March, the supplies to foreign clients grew by 3.3% year-on-year

MOSCOW, April 2. /TASS/. Russia’s gas monopoly, Gazprom, in March increased supplies to countries, which may be clients of the Turkish Stream projects. The company reported its export to Turkey only increased by 51% year-on-year.

During March, the supplies to foreign clients grew by 3.3% (496bcm) year-on-year.

"We can see good dynamics in demand from the countries, which would be able to receive gas from Russia along the Turkish Stream pipeline," the company said. "The export to Serbia grew by 37.6%, to Bulgaria - by 19.4%."

Earlier reports said that in 2016, Gazprom’s export to non-CIS countries grew by 12.5% and reached its historic high - 179.3 bln cubic meters of gas.

In particular, gas exports to the UK amounted to 17.8 bln cubic meters (up 59.9%), to France -11.5 bln cubic meters (18.1%), to Poland - 11.1 billion cubic meters (up 24.2%), to Austria - 6.1 bln cubic meters (by 37.9%), to the Netherlands - 4.2 bln cubic meters (by 77.1%), to Denmark - 1.7 bln cubic meters (156.2%).

Other countries also showed positive dynamics in gas imports. Gas shipments to Italy increased by 1.1% - to 24.7 bln cubic meters, to Bulgaria - by 2.1%, to 3.18 bln cubic meters, to Greece - by 35% to 2.68 bln cubic meters, to Serbia - by 4.3%, to 1.75 bln cubic meters, to Croatia - by 54.8% to 760 million cubic meters, to Macedonia - by 56.5%, to 210 million cubic meters.

The Russian authorities announced the Turkish Stream in December 2014 to replace the South Stream gas pipeline project. It was planned that the offshore section of the Turkish Stream gas pipeline would comprise four stretches with a capacity of 15.75 billion cubic meters each.

However, the negotiations on the project were subsequently suspended, including due to the crisis in bilateral relations. After talks held between Turkish President Tayyip Erdogan and Russian leader Vladimir Putin in St. Petersburg in August 2016, a decision was made to resume works under the Turkish Stream gas pipeline project, set up a working group and prepare a roadmap.

The Turkish Stream project envisages the construction of a gas pipeline across the Black Sea to the European part of Turkey and farther to the border with Greece. The pipeline’s offshore section is expected to equal about 910 km and its overland segment on the Turkish territory 180 km.

The project is estimated at 11.4 billion euros. Gas deliveries via the first stretch of the gas pipeline are designed wholly to meet the requirements of the growing Turkish market.

Source: TASS

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