Russia Is Not Bluffing With Turkish Stream Project
During his visit to Ankara in December 2014, Vladimir Putin announced that South Stream—a large pipeline that would have carried Europe-bound Russian gas under the Black Sea and across Southeastern Europe—had been terminated. A major reason for South Stream’s cancellation was attributed to the exit from the project of Bulgaria, one of the key countries through which this pipeline would pass. Instead, Russia and its regional partners, including Turkey, are now discussing a new pipeline project—Turkish Stream, sometimes referred to as Turk Stream.
It is becoming increasingly evident that Russia and Turkey want to ensure that the Turkish Stream project has a solid economic foundation. During his most recent visit to Ankara, Aleksei Miller, the CEO of Russia’s Gazprom, met with Turkish Energy Minister Taner Yildiz. In the course of their meeting, further technical details of Turkish Stream were revealed: the pipeline will have a capacity of 63 billion cubic meters (bcm) of gas, 15.75 bcm of which will be marketed in Turkey and the other 47.25 bcm is to be marketed to Europe through Greece. This gas pipeline is scheduled to be incorporated into an inter-governmental agreement during the second quarter of this year, and the first transmission of gas is planned to take place in December 2016. According to Miller, this is a fairly realistic timeline.
The speed at which Turkish Stream is being brought to life and the way in which it appears to be taking priority in Ankara over the Azerbaijani-sponsored Trans-Anatolian Gas Pipeline (TANAP) project have both been received negatively by Baku-based media channels. TANAP is a key link in the planned Southern Gas Corridor, which aims to export non-Russian, Caspian-basin natural gas to European markets while bypassing Russian pipelines.
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