Turkey Grants Gazprom Final Offshore Permit for TurkStream Pipeline
January 22 2018 - 8:20AM
Dow Jones News
By Carlo Martuscelli
Gazprom PJSC (GAZP.RS) said Monday that the government of Turkey
has approved the construction of a second offshore section for the
TurkStream natural gas pipeline.
The second offshore permit guarantees that both pipeline
sections will be put into operation on schedule before the end of
2019, said Alexey Miller, chairman of the Gazprom management
committee.
The Russian energy major said it received the construction
permit through diplomatic channels.
With the permit, which grants construction rights inside Turkish
waters, Gazprom now has all the permissions required to complete
the offshore section of the pipeline, which traverses the Black Sea
and reaches Turkey's coast.
TurkStream will run across the Black Sea to deliver gas to
Turkey and then onward to southern Europe. The oil-and-gas company
announced on Jan. 15 that it plans on investing $3.2 billion in the
pipeline this year.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
January 22, 2018 08:05 ET (13:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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