Economy News Comment of the day Media Digest Public Agenda Politics Regional Review About us

Turks shuted off Blue Stream
They want Russia to sell gas for cheaper price

Trud daily was used to write multiply about Blue Stream super project. A gas main from Russia to Turkey was first laid on the bottom of the Black Sea on the depth of 2150 meters. While connecting directly the supplier and receiver by gas the pipe was due to become the source of stable profit for Gazprom and for the Russian budget. Last September the head of the Department for Investments and Construction of Gazprom Mikhail Akselrod told that for coming 25 years the additional volume of exported to Turkey has will reach up to 365 billion cubic meters, that is about 8-10 percent of the common Russian gas export. The expected currency proceeds for this gas is more than 15 billion USD, and profits to the state budget - about four billion. While according to Akselrod the term of recoupment of the sea part of Blue Stream is more than 15 years, and offshore - 8 years. However, after construction of gas main Ankara did not want to pay Gazprom the price - 126 USD for each 1000 cubic meters of the Russian gas. The energy ministry of Turkey announced in late 2002 about the necessity to cut sizably the prices. This May Turkey stopped purchasing Russian gas for Russia refused to accept Turkish terms, thus shutting off the Blue Stream. The Deputy Chairman of Gazprom Yuriy Komarov went to Turkey for "constructive dialogue of the both sides". Under available information Ankara threatened to stop the contract, if Moscow refuses to cut off the price. Thus the Russian side is pushed for revising long term agreement, signed based on generally accepted terms: receiver is obliged to pay for gas even in case if it does not need the foreseen size of product. The term "take and pay" will come into force this July. Gazprom, has an opportunity until July to convince its Turkish partners in necessity of implementation of its obligations foreseen by the agreement. Vice versa, instead of profits Russia will suffer big losses if the pipe were idle reaching more than 40 billion for 25 years.

Trud Daily.

á|á á|á Print version
By Gennadiy Astrebtsov

Design by Integrum-Techno(WeEn) Copyrightę2000-2018 Turkmenistan.ru info@turkmenistan.ru