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The Turkish Stream pipeline, a Russian plan for undersea gas exports to Europe without going through Ukraine, has been put on hold.
The Turkish Stream pipeline is one of the ways Russia is trying to deal with an increasingly fractious relationship with Ukraine, traditionally the gateway for Russian gas into Europe.
Turkish Stream will be made up of four threads, each with the capacity of 15.75 billion cubic meters (bcm). The pipeline will pass 660km under the Black Sea then run 250km towards Europe on Turkish soil. The first line of the Turkish Stream will cost around €3.3 billion. Of the 63bcm of gas annual capacity, about 16bcm will be supplied to Turkey while the remaining 47bcm will go to a hub on the Greek-Turkish border to be transported to Europe.
Announced by Russian president Vladimir Putin on 1 December 2014 during his state visit to Turkey, the proposed pipeline aims to replace the cancelled South Stream project, which was to run from the Black Sea to Bulgaria and through Serbia, Hungary and Slovenia further to Austria.
Talks on the development of the Turkish Stream were apparently suspended after Russia failed to sign off a promised gas price discount agreement, Turkish officials told Reuters. Turkey has also complained that Russia has asked that construction permits be granted four planned lines, instead of the one granted so far.
This is not the first obstacle to be encountered: Gazprom subsidiary South Stream Transport BV, the company developing the pipeline, cancelled the pipe-laying contract with Italian contractor Saipem, Global Construction Review reported.
While the project is likely to be delayed, the current difficulties do not mean it will be dropped: Russian daily Kommersant claimed that negotiations will continue at the end of autumn when Ankara’s new government is to be formed; Putin and his Turkish counterpart Recep Tayyip Erdogan are apparently planning to meet. Kommersant quoted an unnamed Russian official as saying that the halt in talks is more down to Turkey’s lack of a cabinet of ministers than the dispute on cheaper gas prices, although that may not be the whole truth.
The failure to move the project on may result in an upward pressure on prices in Europe. Should further unrest break out in Ukraine, a cold winter could see demand cheap business gas tariffs become fewer. Yet the ‘dash for gas’, including gains from ‘fracking‘ and the development of floating liquid natural gas (FLNG) technology means there are many favourable deals on business gas out there if small to medium sized companies can spend the time to compare and switch supplier.
If that sounds like too much hassle, with SwitchMyBusiness.com both the no-obligation comparison of business energy suppliers and the switch to a new supplier takes a total of only 20 minutes. Fill in our simple form (also at the top right of this page) or give us a call on 0330 0100 251 now to start saving.
"Very easy. Bea Luseni very efficient & knowledgeable."This review was posted by Alan Duffy on the 31st of March 2017
Super helpful and easy to work with
"Recommend this company in a heartbeat - Nicole Borneuf was super easy to talk to, was not pushy in the slightest, very helpful and replied with all my questions very professionally and did all she could to help. I had to deal with a few companies to sort my business energy out, all but Nicole were too pushy for my liking and I refused to follow through with them. Thank Nicole - you are a credit to your company, thank you for making the stressful energy change so easy."This review was posted by Mia Drew on the 29th of March 2017
An Extremely Competent Company
"Switch my business has not only helped my SME secure a good energy deal for the second year running but Jessica swiftly found a alternative supplier for me when I was let down on the day of switching by the new contractual provider I had chosen some 4 months previously. Being suddenly out of contract and without provider is everyone's energy nightmare. Greatest thanks."This review was posted by S McMillan on the 29th of March 2017
Helpful, friendly and we saved lots of money!
"Jessica Purnell was helpful and friendly, she made the whole process easy and simple AND we saved lots of money thanks Jess"This review was posted by Melanie Baker on the 23rd of March 2017
Quick & Easy
"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."This review was posted by Amanda Brown on the 21st of March 2017