Friday, June 12, 2015

Commercial feasibility of Turkish Stream project needs (EU energy chief)

Additional consultations are necessary to clarify the commercial feasibility of the Turkish Stream project, intended to pump Russian natural gas to Europe via Turkey, European Commission Vice-President for the Energy Union Maros Sefcovic said in an interview with Serbian television channel RTS.

"We need more discussions on the Turkish Stream as all the information about it we gather from press conferences while we need to know how it will affect the European energy security and whether the European legislation will be observed," Sefcovic said adding that the implementation of the project would have an impact on Ukraine.

"The existing pipeline [in Ukraine] should be preserved," he said adding that Ukraine has served as a transit route for Russian natural gas supplies to Europe for decades "even in the times of the Cold War."

"Therefore, we need to discuss the Turkish Stream in a constructive atmosphere to understand the commercial feasibility of the project and to see how it fits into the strategy of the Energy Union," he said.

Moscow sees the Turkish Stream gas pipeline as an alternative to the South Stream project, which it abandoned in December over what it said was the EU’s unconstructive approach in energy cooperation.

Russian energy giant Gazprom and Turkey’s Botas Petroleum Pipeline Corporation signed a memorandum of understanding on December 1, 2014, envisaging the construction of a gas pipeline across the Black Sea to Turkey...........


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