Club of Turkish Stream’s friends

At the Budapest meeting, which was held on April 7, Foreign Ministers of Greece, Serbia, Macedonia, Hungary and the Minister for European Affairs of Turkey discussed their countries' participation in the Turkish Stream project. By results of the talks, a declaration on strengthening the energy cooperation was signed, in which they confirmed their intention to participate in the project.

As it is known, the Turkish Stream project became an alternative to the South Stream pipeline, which should be laid under the Black Sea and deliver fuel through Bulgaria to the Balkan republic, as well as to Hungary, Austria and Italy. Capacity of the new pipeline will be 63 billion cubic meters of gas, about 50 billion cubic meters of which will be delivered on a new gas hub on the Turkish-Greek border instead of Bulgaria. In addition, the project provides for increase of gas storage facilities in Hungary, where from it will be delivered in different directions.

In December last year, because of the resistance of the European Commission, which, supported by the US Government, firmly pressed on the participating countries, the Gazprom’s project was stopped. And this is understandable. Why Gazprom shall invest in the construction of gas pipelines in Europe, if the rules of the Third Energy Package provide transfer of 50% of new capacity to competitors through auctions?

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