FX.co ★ Russia and Turkey launch Turkish Stream pipeline

Russia and Turkey officially launched the Turkish Stream pipeline. Vladimir Putin and Recep Tayyip Erdogan summarized the results of the pipeline construction that took 5 years to build. The two leaders turned a symbolic valve in the ceremony. Presently, the line carries Russian natural gas to Turkey and Europe across the Black Sea. Serbian President Aleksandar Vucic and Prime Minister of Bulgaria Boyko Borissov also attended the opening ceremony as their countries took part in the construction of the Turkish Stream. Moreover, Bulgaria was the first European country to directly receive Russian gas by means of the pipeline bypassing the European gas network. The TurkStream runs along the bottom of the Black Sea extending further through the Turkish territory to its border with contiguous countries. The first pipeline will supply Turkey while the second will deliver gas to Europe. Bulgaria already receives natural gas. Hungary, Slovakia, and Serbia are waiting their turn for gas delivery. However, it is too early to comment on the outcome of this cooperation. Turkey provided itself with several gas pipelines last year and planned a new project as well. As a result, the country will have the power to control gas suppliers and possess enormous amounts of gas as well.