The Turkish Stream project was announced in late 2014 by Russian President Vladimir Putin during his state visit to Turkey. The intergovernmental agreement envisioning the construction of two underwater legs of the gas pipeline in the Black Sea was signed in October 2016. The annual capacity of each leg is estimated to reach 15.75 billion cubic meters of natural gas. Pipe-laying work for the Turkish Stream is expected to begin in 2017 and end in late 2019.
The pipeline will run beneath the Black Sea from Russia to Turkey and continue to a hub on the Turkish-Greek border, from where the gas could be transferred to Southern Europe. Russia's energy company Gazprom will own rights for both underwater legs of the pipeline, while the land stretch of the first leg will be owned by the Turkish customers and the land stretch of the second leg will be controlled by a joint venture.
Moscow and Ankara signed an intergovernmental agreement in October 2016 envisioning the construction of two underwater legs of the gas pipeline in the Black Sea. The annual capacity of each leg is estimated to reach 15.75 billion cubic meters of natural gas. Pipe-laying work for the Turkish Stream is expected to begin in 2017 and end in late 2019.
