The TurkStream pipeline, which will supply Europe with Russian gas via Turkey, officially started operating on 08.01.2020. An official ceremony was held in Istanbul, led by the President of the Republic of Turkey, Recep Tayyip Erdogan, and the President of the Russian Federation, Vladimir Putin.
At the ceremony, President Erdogan said that the TurkStream project was a project for which great efforts had been made with Russian friends and were of historic quality both in terms of bilateral relations and on the energy map. Mr. Erdogan stressed that cooperation with Russia in energy had overcome all challenges, as in other areas, showing steady growth in the volume of trade.
Russian President Putin said that despite all efforts to obstruct it, cooperation between his country and Turkey continues to develop. He said that the transfer of Russian natural gas to Europe via Turkey would also have an impact on the European economy.
The vast gas pipeline, 1,000 km from Anapa in Russia to Kiyiköy in Turkey, symbolizes the strategic and economic connection between Russia and Turkey. It is supposed to supply Turkey and southern Europe with Russian gas via the Black Sea and bypass Ukraine. However, this project includes two pipelines. Turkey will receive half of the pipeline’s total capacity, which is more than 15 billion cubic meters of gas. The other half of its capacity will go to Europe, specifically Bulgaria, Serbia, Hungary, and Slovakia. This immense gas pipeline will also have a substantial impact on the European energy market.
The Tanap, together with TurkStream, will be the key to secure energy supply, not only for Turkish people but also for Europe.
The cornerstone of the Tanap was laid in March 2017. The pipeline will transport about 16 billion cubic meters of Azerbaijani gas in the first phase (10 billion cubic meters to Europe and 6 billion cubic meters to Turkey). It is one of the largest strategic gas pipelines supervised by Turkey. For its part, the TurkStream, aimed at transferring Russian gas to Turkey and then to Europe, will consist of two lines crossing the Black Sea, the first of which will serve Turkey and second Europe, each with a capacity of 15.75 billion cubic meters per year.
You can visit the official website of the Turkstream pipeline to see the details of the project.
- The Russia-Ukraine War’s Effect on the Global Economy
- Waterless Washing Machine by LG Electronics Inc.
- IKEA is Moving Its Production to Turkey
- Turkish Furniture Industry
- The Chemical Industry in Turkey
- Exports of Automotive and Machinery Increased in Turkey
- The Latest Investments Made in Turkey
- The First Decacorn of Turkey
- 10 Turkish Startups are Becoming Unicorns
- Turkey’s Exports in June 2021
- 110.000 Jobs Created by Renewable Energy Projects in Turkey
- Dream Games Raised $155 Million Investment
- Hepsiburada: The First Turkish Company on Nasdaq
- 7 Technology Giants are Investing in Turkey
- Sinovac Granted the License to Turkey for COVID-19 Vaccine Production
- Joint Investment Opportunities of SOCAR and Turkish Petroleum
- Container Crisis’ Effects on Turkish Foreign Trade
- How to be an Angel Investor in Turkey?
- Turkish Start-up Ecosystem is Promising
- The Best Time to Purchase a Boat