TurkStream to supply natural gas from Jan. 2020

In an interview with Rossiya 24 TV channel, Novak said that negotiations are still ongoing over the route options for the second pipeline with all concerned countries in agreement on the project's route map.

"We have different options. The first route is through Greece to Italy. And the second option is to stretch this pipeline to Serbia, Hungary and Austria through Bulgaria," he said, adding, "Our priority is to stretch the second pipeline through Bulgaria to Austria."

He explained that with the project progressing on schedule, "the project may start to supply natural gas as of Jan. 1, 2020 with a capacity of 31.5 billion cubic meters (bcm) from two pipelines."

Alexey Miller, chairman of the management committee of the Russian energy company Gazprom, also said in a statement last week that the construction of the offshore part of the TurkStream project would be completed in two months.

The TurkStream project is an export gas pipeline, which will not only span across the Black Sea from Russia to Turkey but will further extend to Turkey's borders with neighboring countries.

TurkStream's first line will carry 15.75 bcm of natural gas to Turkey. The project will have a capacity of 31.5 bcm with the second line that will go to Europe.