TurkStream Has Prospects For Expansion To Other States Via Network Of Branch Lines -Peskov

(@FahadShabbir)

 TurkStream Has Prospects for Expansion to Other States Via Network of Branch Lines -Peskov

There are prospects for creating a network of branch lines in other countries as part of the TurkStream gas pipeline project, Kremlin spokesman Dmitry Peskov said on Monday

MOSCOW (UrduPoint News / Sputnik - 19th November, 2018) There are prospects for creating a network of branch lines in other countries as part of the TurkStream gas pipeline project, Kremlin spokesman Dmitry Peskov said on Monday.

"Many other countries are now seeking to get a branch on their territory. Of course, the hub will be formed and the gas will go further. According to the existing plans, the Turkish economy simply cannot 'digest' such amount of gas, but, at the same time, Europe still needs to receive gas, so there are broad prospects here for creating a network of branch lines," Peskov told reporters.

The Kremlin has no doubts that the second leg of the pipeline will be profitable, the spokesman added.

"If there was a threat of losses that exceeds reasonable values, then, naturally, no one would get involved in this project," Peskov said.

At the same time, answering the question about guarantees that Europe will be purchasing gas delivered via the second leg, Peskov said that Gazprom was "making relevant contacts."

Russian President Vladimir Putin will visit the Turkish city of Istanbul on Monday and take part via a video conference in the ceremony of the completion of the sea section of the TurkStream pipeline. The TurkStream project envisages the construction of a gas pipeline comprising two strings, each with the capacity to deliver 15.7 billion cubic meters (554 billion cubic feet) of gas per year.

The first leg is set to bring gas across the Black Sea directly to Turkey, while the other one will run across the Turkish territory to its western border, transporting natural gas to countries in the south and southeast of Europe.