Gazprom Delays Turkish Stream Pipeline

Gazprom has announced it will delay the Turkish Stream gas pipeline, reported Sputnik news agency Monday.  

The pipeline was scheduled to go online late 2016 but with Russia and Turkey yet to sign a deal, work on the project is still to kick off.

"Due to the fact that the installation [of the pipeline] did not begin as planned, we are no longer speaking of December 2016," Gazprom’s deputy chairman Alexander Medvedev said Monday, according to Sputnik.

Ankara will be ready to discuss the Turkish Stream project with Russia in detail when a discount on the Russian gas is agreed between the two countries, the news agency added.

The Turkish Stream is a proposed pipeline with an annual capacity of 63 billion cubic meters that will run from Russia to Turkey and to Europe beneath the Black Sea. Turkey is due to receive 15.75 billion cubic meters annually.