Gazprom to Invest $3.2 Billion in TurkStream Pipeline

By Carlo MartuscelliFeaturesDow Jones Newswires

Gazprom PJSC (GAZP.RS) said Monday that it plans to invest 182.41 billion rubles ($3.2 billion) in its TurkStream pipeline in 2018.

The oil-and-gas company said its Nord Stream 2 pipeline is set to receive RUB114.51 billion in investment.

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The two natural-gas pipelines are designed to deliver Russian gas to the West. TurkStream will run across the Black Sea to deliver gas to Turkey and then onward to southern Europe, while Nord Stream 2 will follow the route of the existing Nord Stream pipeline, connecting Russia to Germany, Gazprom said.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

January 15, 2018 10:36 ET (15:36 GMT)