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The Cost of Construction of Turkish Stream Suddenly Went Up
February 11, 2018 00:09


The cost of construction of Turkish Stream gas pipeline suddenly went up by one billion dollars, while the costs of the project are likely to be completely transferred to Gazprom's balance sheet. This was told by the Deputy Chairman of the board of gas monopoly, Andrei Kruglov, at the meeting with investors in London.

"Previously, we said that the cost of the project would be about six billion, now we estimate it around seven billion. We do not exclude the possibility of project financing. But proceeding from the existing reality, most likely the Turkish Stream will be financed from the budget of Gazprom", Kruglov said, noting that to implement the project the company plans to issue special bonds.

A similar scheme was already used by Gazprom in the construction of North Stream -1. In December 2017 it became known that due to potential sanctions from the USA, the company sharply increased its investments in its gas pipeline projects.


Author: Anna Dorozhkina


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