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09 Feb 2018, Gergana Bencheva, EMIS Editor

Gazprom raises investment estimate for TurkStream project to EUR 7bn

Russian oil and gas major Gazprom has raised its investment estimate for the construction of the Turkish Stream (TurkStream) gas pipeline to EUR 7 billion against EUR 6 billion projected previously, Thai News Service reported referring to the group’s deputy CEO Andrei Kruglov.

He also explained that Gazprom expected to initially finance the project from its own budget and then to get the investment back through the issue of project bonds.

Gazprom’s investments in the pipeline in 2018 are expected to reach RUB 182.4 billion, Thai News Service added.

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