Russia's largest natural gas producer, Gazprom, estimates the cost of building two lines of the Turkish Stream gas pipeline to be $6 billion, Gazprom Deputy Chief Executive Andrei Kruglov was quoted as saying by Reuters on June 22.
The first line is to run to Turkey, while the second one will ship natural gas to Europe.
Russian energy giant Gazprom will begin construction on the Black Sea portion of the Turkish Stream natural gas pipeline in a few days, according to CEO Aleksey Miller, who spoke to reporters on Thursday.
Nord Stream 2 AG has signed contracts with Engie, OMV, Royal Dutch Shell, Uniper and Wintershall on the financing of the Nord Stream 2 gas pipeline.
The companies will provide half of the project cost of EUR 9.5 billion, TASS has reported, quoting Gazprom.
Gazprom's investments in gas midstream will grow by 6.8 percent year-on-year to 911.2 billion rubles ($15.3 billion), including the Turkish Stream project, the Russian gas holding said on Jan. 19, as reported by TASS.
Investments in the Turkish Stream project will total 42 billion rubles ($702.7 million) in 2017, according to the report.