Russia’s new natural gas pipeline, which energy giant Gazprom will built in place of the South Stream pipeline, might be called the Turkish Stream, Gazprom deputy CEO Alexander Medvedev said on Monday, TASS reports.
“The South Stream pipeline will not be constructed and we will be implementing another project, which will get its name in the nearest future,” Medvedev said. “Our partners in Turkey proposed the name of the Turkish Stream.”
Russian President Vladimir Putin announced on December 1 that Russia was abandoning its South Stream gas pipeline project in Europe over the European Commission’s unconstructive approach and instead was planning to build a gas pipeline to Turkey.
Gazprom will build a gas hub on the Turkey-Greece border under a new 63 billion cubic meter pipeline project. Gazprom CEO Alexey Miller said the construction of a gas pipeline to Turkey will make it possible to reduce the risks linked with natural gas transit through Ukraine. Russia’s steel pipe manufacturers hope that all their products originally meant for the South Stream project will be redirected to the new gas pipeline project.
The South Stream gas pipeline worth €15.5 billion was intended to pump 67 billion cubic meters of Russian natural gas to Europe annually. The pipeline’s underwater section 900 km (559 miles) long was intended to run along the bed of the Black Sea from the Russkaya compressor station on the Russian shore to the Bulgarian coast. The onshore section was planned to cross Bulgaria, Serbia, Hungary, Slovenia and Austria.