Russia: Gazprom Finalizes Pipeline Deal with Turkey

Russian energy behemoth Gazprom announced that it has reached a deal with Turkish government officials and representatives from Botas, a major Turkish energy firm, to construct what has been labeled the “Turkey Stream.” The new pipeline is expected to connect the two countries and will become operational in December 2016, according to a Gazprom spokesperson. The new pipeline is being constructed as an alternative to the proposed “South Stream” pipeline that was ultimately scrapped due to the European Union’s refusal to joint fund it.

An agreement on the proposed pipeline was expected to be brokered much sooner, although delays suggest that Turkey has made use of its leverage as a geopolitically partner to both East and West in order to drive down the price of gas and negotiate for itself a better deal. This falls in line with comments made by Gazprom officials in the past.

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