Turkey to invest $23 million for TurkStream in 2019

Turkey plans to invest 122 million Turkish Liras in 2019, equivalent to around $23 million, for the land section on Turkish soil of the TurkStream natural gas pipeline, according to the government's 2019 investment plan released on Monday.

According to the official announcement, the Turkish government will spend a total of 217.91 million liras for the project on Turkish soil.

In 2018, the country invested around 95.91 million liras for the project, and this year aims to invest another 122 million liras.

The TurkStream's first line, which will carry Russian gas to Turkey for the country's use, is set to be 100 percent completed with the construction of the 69-kilometers-long land section. The pipeline plans to be up and running by late 2019.

The project has a total capacity of 31.5 billion cubic meters, out of which the first line will carry a capacity of 15.75 billion cubic meters of Russian gas to Turkish consumers.

The second line, which will carry another 15.75 billion cubic meters of gas to Europe, is expected to route from Turkey through Bulgaria, then Serbia, Hungary and Slovakia.

($1 = 5.30 Turkish Liras)