Turkey to launch TurkStream on Jan. 8

Turkey will launch TurkStream natural gas pipeline next month, energy and natural resources minister said on Friday.

"We will launch TurkStream on Jan. 8. We will be indispensable in international markets with natural gas pipelines coming from both the east and north," said Fatih Donmez.

The Nord Stream project -- operational since 2011 with an annual capacity of 55 billion cubic meters -- brings Russian gas directly to Germany via the Baltic Sea.

The Nord Stream 2, spearheaded by Russia's state-owned energy company Gazprom, is nearly completed and has the same annual capacity, running almost parallel to the first pipeline route.

Together they will meet the annual gas demands of a quarter of the European continent.

The TurkStream natural gas pipeline 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 will carry another 15.75 billion cubic meters of gas to Europe via Turkey.