OGZD.L Regulatory News (OGZD)

01.10.2014

Decision taken to boost Blue Stream's capacity to 19 billion cubic meters

Moscow hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Republic of Turkey.

It was agreed to load Blue Stream with Russian natural gas to full capacity as soon as possible in order to satisfy the growing demand of Turkish consumers.

In this regard, it was pointed out that the volumes of Russian natural gas supply to Turkey would hit a historic record this year - 30 versus last year's 26.6 billion cubic meters.

The meeting agreed to boost Blue Stream's capacity from 16 to 19 billion cubic meters a year and to carry out the relevant work. The Beregovaya CS in Russia and the Durusu receiving terminal in Turkey will be upgraded for this purpose.

"Turkey is our most evolving market in terms of supplies. Gazprom has always reacted to the growing gas demand in Turkey by boosting supplies via Blue Stream. Today's decision will enable the Turkish economy to progress to a new stage," said Alexey Miller.

Background

Turkey is Gazprom's second largest sales market behind Germany. In 2013 Gazprom supplied Turkey with 26.6 billion cubic meters of natural gas.

Russian natural gas is supplied to Turkey via the Blue Stream and the Trans-Balkan gas pipelines.

The Blue Stream gas pipeline secures annual direct supply of some 16 billion cubic meters of Russian natural gas to Turkish consumers under the Black Sea.

The cooperation in the gas sector between Russia and Turkey commenced in 1984 when the Governments of the Republic of Turkey and the USSR signed the Agreement on natural gas supply to Turkey.

Information Directorate, OAO Gazprom

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