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Serbia to invest 1.08 bln euro in its section of TurkStream - energy min

Author Radomir Ralev
Serbia to invest 1.08 bln euro in its section of TurkStream - energy min Aleksandar Antic; Source: Gazprom

BELGRADE (Serbia), November 29 (SeeNews) - Serbia plans to invest 1.08 billion euro ($1.23 billion) in the project for construction of the section of the TurkStream pipeline for transit of Russian natural gas to Europe on its territory, energy minister Aleksandar Antic said.

The construction of the gas pipeline section is expected to be completed in 2020, Antic said on Wednesday during the parliamentary debate on a draft law for expropriation of land for the project, according to a statement issued by Socialist Party of Serbia (SPS).

"In the 2019 budget, as in 2018, a total of 70 million euro are planned for the participation of Serbia in the project," Antic said.

The head of state-owned monopoly Srbijagas, Dusan Bajatovic, said earlier this week that Bulgaria and Serbia plan to launch an auction for binding bids for transit of natural gas through the future leg of TurkStream pipeline on their territories around December 15. 

Gazprom plans to build the string of the TurkStream pipeline for transit of Russian gas to Europe on the territory of Bulgaria, Serbia, Hungary and Slovakia, Russian daily Kommersant reported last week, quoting documents of gas transmission system operators from those countries.

The TurkStream offshore gas pipeline, to stretch for 930 km across the Black Sea from Russia to Turkey, consist of two parallel strings with annual throughput capacity of 15.75 billion cubic metres of gas each. One string is intended for consumers in Turkey, while the second will carry gas to customers in southern and southeastern Europe.

($ = 0.879494 euro)