Gazprom to Halve Turk Stream Capacity
- New Europe Investor
- October 09, 2015
Russia energy giant, Gazprom is to halve the capacity of the gas pipeline project, Turk Stream.
The original intended capacity of the pipeline was 63 billion cubic metres per year. This has now been cut to 32 billion cubic metres.
Russia have been trying to circumvent Ukraine in shipping gas to Europe for some time, due to the constant pricing disagreements affecting the levels of supply.
The reason for the decision related to capacity of Turk Stream was down to expansion of another alternative pipeline, Nord Stream, which runs through the Baltic Sea to Germany. Russia intends to expand the capacity of Nord Stream in a project commonly known as Nord Stream-2.
Gazprom chief, Alexei Miller confirmed the reason for the reduction in capacity this week.
Stage 3 and 4 of Nord Stream will have a capacity of 55 billion cubic metres per year. It will be constructed by Gazprom in conjunction with a number of other European energy companies.