Gazprom denies rumors of cancelation of Turkish Stream

Russian energy producer Gazprom on Sept. 7 denied rumors the Turkish Stream pipeline project had been cancelled by Turkey.

Alexander Medvedev, deputy chairman of the management committee at Gazprom, said the company agreed with Turkey to initially come to an agreement concerning branch 1 before looking at the other branches. 

He noted talk of Turkey's withdrawal from the construction of the project's second, third and fourth legs was untrue, at a press conference upon a question. 

The Turkish Stream project was publicly announced during Russian President Vladimir Putin's visit to Turkey on Dec. 1, 2014, after the cancellation of the South Stream project.

The Turkish Stream project is a Russian proposal which will transport Russian gas to Europe while bypassing Ukraine. The project is planned to carry 63 billion cubic meters of natural gas to Europe via the Turkish-Greek border. Turkey is due to receive 15.75 billion cubic meters out of the total capacity of the pipeline.

 It is planned to have four phases and will be constructed in parts.

Gazprom estimated the cost of the construction of the four pipelines of the project to be around $12.5 billion.