Swiss Allseas inks the deal for offshore part of the TurkStream

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Swiss Allseas inks the deal for offshore part of the TurkStream

Russian energy giant Gazprom and Swiss Allseas have reportedly signed an agreement for the construction of a second pipeline in the TurkStream natural gas pipeline project.

The written statement released by Gazprom said that the deal reached with Allseas for the second pipeline, which is likely to be constructed in the sea bed of the TurkStream project, was signed as part of the option stipulated by the agreement for the first pipeline.

The TurkStream Natural Gas Pipeline is projected to be completed by 2019

In accordance with the agreement between Gazprom and Allseas, the latter company will lay a 900 kilometer-long pipeline in the Black Sea.

Last December, Gazprom and Allseas signed an agreement for the construction of the first pipeline for the TurkStream natural gas pipeline project.

According to the officials, the extension of the TurkStream natural gas pipeline project, which will transfer Russian gas to EU countries via the Balkans, will be shaped by diplomacy.

On Oct. 10, Turkey and Russia signed an inter-governmental agreement on the construction of the planned TurkStream gas pipeline to compress Russian gas under Turkish waters in the Black Sea toward Europe.

The agreement was signed by Energy Minister Berat Albayrak and his Russian counterpart Alexander Novak, in the presence of Russian President Vladimir Putin and President Recep Tayyip Erdoğan after talks in Istanbul as part of the 23rd World Energy Congress. According to Gazprom CEO Alexei Miller, in the second half of 2017, the laying of the pipeline in the Black Sea will begin. Moreover, Minister Albayrak previously announced that the construction of the first pipeline will be completed by 2019.

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