Russia Launches Into New Export Territory With TurkStream Natural-Gas Pipeline
Russia has been seeking to cut gas transit through Ukraine since the mid 2000s, and the $7.8 billion TurkStream pipeline project is a big part of that strategic goal.
The pipeline, which transits the Black Sea and surfaces outside Istanbul, took five years to complete and is one of two major new natural-gas export routes totaling nearly $20 billion that Russia expects to go on line this year.
TurkStream also marks a major achievement for Turkish President Recep Tayyip Erdogan, who has long sought to turn his country into an energy hub and will stand alongside Putin at the January 8 inauguration ceremony.
The pipeline will carry 31.5 billion cubic meters (bcm) of Russian natural gas annually to Turkey’s western province, with half of that volume to be further exported to the Balkans and Central Europe, including Bulgaria, Serbia, and Hungary.
Ukraine is about to enter a whirlwind of hurting. Now Russia can turn off the tap going through Ukraine and hold that nation hostage, while still delivering to the EU states.