ADVERTISEMENT

Gazprom, Turkey agree to route of new gas pipeline

Int’l Relations

Gazprom Chairman Alexei Miller and Turkey's Minister of Energy and Natural resources Taner Yildiz discussed the route of a new pipeline from Russia to Turkey to be built under the Black Sea, during a working meeting in Ankara on Tuesday, Gazprom said in a statement, MTI news agency reported yesterday.

The construction of pipeline will consist of four phases, to be completed at a capacity of 63 billion cubic meters per year. It will pass 660 km through the old South Stream corridor and 250 km through a new corridor towards the European part of Turkey, the statement said. The two parties plan to sign an intergovernmental agreement in Q2 of this year and begin supplying Turkey with gas in December 2016, Miller said.

Hungary and Turkey would immediately start talks on delivering part of the gas to central Europe as soon as Russia and Turkey reach an agreement, Hungarian Foreign Minister Péter Szijjártó said after discussing energy issues with Turkey's Prime Minister Ahmet Davutoglu and two members of his cabinet in Ankara on Monday. 

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.