Russia ready to extend Turkish Stream to Europe via Serbia, Putin says

Russia is ready to invest $1.4 billion to continue the development of the TurkStream pipeline stretching to European states via Serbia, Russian President Vladimir Putin said on Thursday, Sputnik reported.

Putin is in Belgrade for a one-day visit to discuss the extension of the TurkStream pipeline and the tensions between Serbia and Kosovo.

The Serbian President Alexandar Vucic also said on Thursday that his country would like to receive gas via the Turkstream project.

Russia is considering several options for the extension of the Turkstream pipeline, with one of them set to carry gas through Bulgaria, Serbia, and Hungary, Sputnik said.

The TurkStream pipeline, when completed, will consist of two lines with the capacity to transport 31.5 billion cubic metres of gas from Russia. The first line will carry 15.75 billion cubic metres of gas to Turkey while the second line will transfer Russian gas to Europe through Turkey.

Bulgaria in November announced plans for a new gas pipeline that can be connected to TurkStream. Bulgaria’s state gas company Bulgartransgaz plans to build a new 484-km gas pipeline from its border with Turkey to Serbia by 2020.

Another option for the extension of the Turkstream is to carry gas through Greece to Italy.

A day before an official visit to Moscow in December, the Greek Prime Minister Alexis Tsipras told Russia’s state news agency TASS that his country was in talks with the European Union regarding the extension of the TurkStream natural gas pipeline over Greek territory to other EU countries

During a joint press conference with the Greek prime minister on Dec. 8, Putin said that extension of the TurkStream natural gas pipeline to Greece was quite possible.