Won’t ‘Nord Stream-2’ prevent ‘Turkish Stream’?

Won’t ‘Nord Stream-2’ prevent ‘Turkish Stream’?

Today Russian President Vladimir Putin participated in a teleconference during the ceremony of welding the first joint of the new gas pipeline, which took place in the industrial capital of Komi-Ukhta. Thus, the Head of the Russian State launched the construction of the pipeline ‘Ukhta-Torzhok-2’ for the pipeline ‘Nord Stream-2’. Gas from the Yamal Peninsula is to be delivered to the European Union with the help of it.

According to today’s information in mass media, the Turkish state company ‘Botas' brought an action to international arbitration against ‘Gazprom.’ The company is trying to dispute the price for Russian gas. In particular, it is trying to make a retroactive revision of the contract, which is valid from December 29th of last year. The Turkish side has recently sent a notice of claim to ‘Gazprom'.

Russia and Turkey agreed to reduce the price of Russian gas a year ago, but the agreement was tied with the resolution on the construction of the ‘Turkish Stream' pipeline. The budget of the Russian Federation in 2016 includes the price of natural gas for Ukraine amounting to $147.5 installed and $200 for the European Union per 1000 cubic meters.

As the deputy director of the Institute for Energy and Direction of Finance Alexey Belogoriev said in an interview with a correspondent of Vestnik Kavkaza,he ‘Nord Stream-2’ is currently considered by ‘Gazprom’ as an alternative to the ‘Turkish Stream’ route to obtain transit outwith the territory of Ukraine. 

‘‘At the same time, the ‘Turkish Stream’ pipeline remains relevant in terms of the diversification of gas supplies,’’ he added. "The project can help to stop the Balkan pipeline, which starts in Ukraine, and moreover it is used to supply gas to western regions of Turkey."

‘‘Even one thread of ‘Turkish Stream’ can promote this, as the second thread is oriented toward future demand," the expert added.

Alexey Belogoriev added that it is too early to speak with absolute certainty about the construction of ‘Nord Stream-2’.

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