The Irish Times: Turkey Keen to Take Advantage of Hunger for Energy in Europe and at Home

An audacious new plan to pipe Russian gas to Europe has thrown light on Turkey’s emerging and potentially crucial role in getting gas to the energy-hungry continent following the political standoff surrounding events in Ukraine.

The €39 billion Turkish Stream plan was announced by Russian president Vladimir Putin in Ankara last month and would see 63 billion cubic metres (BCM) of natural gas carried under the Black Sea to Turkey each year. The Turkish Stream would replace the defunct South Stream pipeline project that was to transit gas to Europe via Bulgaria.

It would also see Turkey occupying the crucial role of middle man between supplier Russia and EU member Greece. As part of the Turkish Stream announcement, Russia said it would supply an extra three billion cubic metres of gas a year to Turkey at a 6 per cent discount.

Russian energy giant Gazprom upped the ante this week urging Europe to hook up to the proposed Turkey project, with chief executive Alexy Millar saying: “The Turkish Stream is the only route along which 63 billion cubic meters of Russian gas can be supplied, which at present transit Ukraine. There are no other options.”

Read the full article HERE.