The State Duma ratified the agreement between Russia and Turkey on the construction of the “Turkish Stream” gas pipeline. The duration of the agreement is 30 years with the prospects of prolongation for subsequent five-year periods.
The responsibility for its implementation is assumed by Gazprom on the Russian part and the “BOTAS” company on the Turkish part.
“The investments required to implement the project in the double-thread version performance, including costs incurred previously within the framework of implementation of the offshore section of the “South Stream” project, make up about 7 billion euros” - the accompanying documents to the agreement say.
At the beginning of December 2016 year Gazprom signed the contract for the installation of the first line of the offshore section of the pipeline with the “Allseas Group S.A.” company. The document also provides for an option for the second thread. It is expected that the contractor will start working in the second half of 2017.
Author: Anna Dorozhkina