Serbia delays launch of Turkish Stream section until May 2021

By bne IntelliNews November 25, 2020

Serbia has delayed the launch of its section of Turkish Stream until May 2021 due to the slower than expected construction of a compressor, Russian news outlet Kommersant reported on November 25.

Serbia completed the rest of the pipeline some time ago and is eager to become part of the Turkish Stream pipeline.

According to Kommersant, this would mean that Russia’s energy giant Gazprom will need to book additional transit capacity through Ukraine for early 2021.

Turkish Stream spans a 930-km route across the Black Sea. It helps to meet Turkey’s ambition of becoming a gas hub serving European markets. However, analysts have noted that Turkey will not be able to use its role as a transit state for Russian gas to Europe as leverage over Moscow because if it attempted to play politics in that way the Kremlin could simply switch gas volumes back to Ukraine.

Meanwhile, Serbia’s government has decided to withdraw a state guarantee for a €70mn loan to the natural gas provider Srbijagas, which has been approved by the parliament’s finance committee, N1 reported.

The loan had to be used by Srbijagas to build a pipeline from the Serbian border with Bulgaria to the border with Hungary and other neighbouring countries.

Srbijagas is borrowing the sum from Vojvodjanska Bank, OTP Bank and the Post Office Savings Bank. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

EBRD and AIK Banka forge €50mn loan for Serbian SMEs

The European Bank for Reconstruction and Development (EBRD) is partnering with AIK Banka to provide a €50mn loan for local small and medium-sized enterprises (SMEs) in ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss