Trend: First string of Turkish Stream pipeline to cost $4.72Bln

Russian energy giant Gazprom estimates the cost of constructing the first branch of the Turkish Stream pipeline at €4.3 billion ($4.72 billion), while the overall price tag for all four legs of this project are estimated at €11.4 billion, First Deputy Head of Gazprom's Project Management Department Aleksei Serebryakov said Monday.

“The total cost [of the Turkish Stream pipeline] is currently estimated at €11.4 billion excluding VAT. The cost of the first branch of the gas pipeline will be about 4.3 billion euros excluding VAT,” Serebryakov said on a conference call with investors.

In July, a source in the Russian Energy Ministry told journalists that Russia had sent a proposal for the construction of the first branch of the gas pipeline to Turkey.

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