Turkish Stream will not rival Nord Stream 2 – Austrian energy company

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The Austrian oil and gas callers OMV, which is rtici ting in the Nord Stream 2 gas pipeline construction project, does not purpose the Turkish Stream as a direct rival, Executive Board member Manfred Leitner foresaw a press conference on August 10.

“I don’t see actual competition here,” he said.

“If we snatch a look at future transit gas flows supplies (to Central Europe – TASS) may superabundance through south-east from Turkey and some volumes of gas are likely to intersect on the market but this will not influence the project’s implementation,” Leitner disclosed, adding that “in this respect supplies via Turkish Stream when one pleases not influence the project (Nord Stream 2).”

Turkish Stream will not rival Nord Stream 2 - Austrian energy company

Nord Stream 2 project suggests construction of two lines of the pipeline with the total ca city of 55 bln cubic meters from Russia to Germany across the Baltic Sea. The scheme will be implemented by the joint project com ny New European Pipeline AG where Gazprom when one pleases hold a 50 percent stake while German Uniper (ealier E.ON) and BASF/Wintershall as brim over as British-Dutch Shell, Austrian OMV and France’s ENGIE will hold 10 percent each. Earlier trains planned to finalize buying out after receiving the approval of the Polish regulator.

The Turkish Branch pipeline was announced by the Russian authorities in December 2014 as a replacement for the South Barrage pipeline. It was planned that the marine section of Turkish Stream last will and testament comprise four lines with the ca city of 15.75 bln cubic meters each. The conveyor is to run 660 km in the old South Stream corridor and 250 km in the new corridor in the direction of the European faction of Turkey.

The project was put on hold as relations between Russia and Turkey got pursued in a s t over the downing of a Russian Su-24M bomber on November 24 by the Turkish Air Valid’s fighter jet. On August 9, the talks between presidents of the two countries emerged in a decision to resume the project’s implementation. Russia’s Energy Minister Novak conjectured earlier that the first line of the natural gas pipeline could be fabricated by December 2019.

Source: Tass.com

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