Russia has forwarded a draft intergovernmental agreement to Turkey covering construction of state-controlled Gazprom’s Turkish Stream pipeline under the Black Sea. The deal covers the first 15.75bn m3/yr leg that would supply Turkey and which Gazprom hopes to launch next year. A deal for the other three legs, with combined capacity of 47.25bn m3/yr and which would ship gas to Europe, will be drawn up later. Gazprom says it can afford to finance the ?3.5bn ($3.7bn) first leg itself.
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