Gazprom: Turkish Stream project ready for project financing

MOSCOW, Jun 29 (PRIME) -- Russian gas giant Gazprom is ready to raise project financing to build the Turkish Stream natural gas pipeline, Igor Shatalov, first deputy head of Gazprom’s financial and economic department, told reporters on Wednesday.

“As for Turkish Stream, this project was quite thoroughly and seriously considered at the outset,” Shatalov said, adding that Gazprom is about to raise financing if Moscow and Ankara decide to go ahead with the project.

“The cost of the four lines was estimated at about 11.4 billion (euros). There is a possibility we will build only two lines. It is very ready to get project financing.”

In December 2014, Russia cancelled building the South Stream natural gas pipeline, which was supposed to carry Russian gas to Europe bypassing Ukraine, and decided to redirect all gas supplies to Turkey through the yet-to-be-built Turkish Stream pipeline. But the talks on the project stalled as relations between the two countries worsened.

However, this week Turkey mended relations with Russia with President Recep Tayyip Erdogan apologizing to the family of a pilot of a Su jet Ankara downed in December.

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