Russia proposed the signing of a memorandum between the Turkish government and Russian state-owned natural gas company Gazprom regarding the onshore construction of the TurkStream pipeline. The memorandum is expected to be signed in November.
Turkey is expected to soon provide Russia with the necessary permits for the construction, according to the draft memorandum.
TurkStream is a natural gas pipeline project comprised of two different lines, one for the Turkish market and the other for natural gas transit.
While the pipeline which will cater to the Turkish market is scheduled for completion in 2018, the construction of the second line for the European market will be completed in 2019.
TurkStream will directly connect the large gas reserves in Russia to the Turkish gas transportation network, to provide reliable energy supplies for Turkey, south and south-east Europe.
The capacity of each line will be 15.75 billion cubic meters of gas. The construction of the pipeline under the Black Sea was initiated in May, 2017.
