“The South Stream gas pipeline worth €15.5 billion was intended to pump 67 billion cubic meters of Russian natural gas to Europe annually.
The pipeline’s underwater section 900 km (559 miles) long was intended to run along the bed of the Black Sea from the Russkaya compressor station on the Russian shore to the Bulgarian coast.” (TASS, January 14, 2015)
On December 1, 2014, President Vladimir Putin announced that the project to build the South Stream gas pipeline “was closed due to the European Union’s unconstructive approach to cooperation, including Bulgaria’s decision [pressured by the US] to stop the construction of the pipeline’s stretch on its territory.”
The South Stream was replaced by the “Turkish Stream”. The scrapping of the South Stream was coupled with the signing in Ankara of a historic December 2014 deal between presidents Vladimir Putin and Recyyp Erdogan.
Under the Russian-Turkish agreement pertaining to gas pipeline routes, Turkey was slated to become a major hub and transit route for the export of Russian natural gas to both Southern and Western Europe.
Russia’s Gazprom in a historical announcement by CEO Alexey Miller in January 2015 confirmed that: The Turkish Stream gas pipeline project was considered “the sole route for Russia’s future supplies of 63 billion cubic meters of natural gas to Western Europe… The Gazprom head made this statement in response to a question about the fate of Russia’s South Stream gas pipeline project.” (Tass, January 14, 2015)
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