Arab and international Since 2017-07-11 at 16:18 (Baghdad time)
Mawazine News - Follow up
Russian gas company Gazprom and Turkish state-owned Potas have reached agreement on the terms of financing of the Turkish Torch gas project in Turkish territory, according to the executive director of Potas.
"We have already agreed with Gazprom on this issue, but I am unable to disclose the figures," Burhan Ozgan told Novosti on the sidelines of an energy conference in Istanbul.
The "Turkish Torrent" is a project to transport Russian gas through the Black Sea floor to Turkey and from there to Europe. The project includes two pipelines with a total capacity of 30 billion cubic meters of gas annually, one for the Turkish market and the other for European consumers. European guarantees before the construction of the second line.
In May, Gazprom began extending the sea section of the Turkish Torch, and the project is expected to be completed in 2018.
"The process of granting licenses to build the second line of the" Turkish Torrent "continues in a positive way, and there are no obstacles in that."
He also pointed out that the extension of the land part of the pipeline in Turkey will be on the European part of Turkey. "Construction work continues on both the sea and the land, and there are no problems," he said.
Moscow and Ankara agreed in October to formally implement the project, which cost an estimated 11.4 billion euros (about 12.9 billion dollars).
Earlier this month, Gazprom agreed with Hungary (Hungary) to supply natural gas via the Turkish Torrent pipeline.
At the time, Hungarian Foreign Minister Peter Siyarato said that the "Turkish Torrent" branch to Hungary would be completed by the end of 2019. He added that Budapest considered it the best option compared to other routes of gas supply.