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TurkStream Pipeline Has License Revoked As New Sanctions Come Into Effect

Dutch authorities have withdrawn the export license of the company operating the TurkStream gas pipeline from Russia to Turkey, the company, which is based in the Netherlands, said.

South Stream Transport noted, however, that the flow of gas will continue as it applies for a new license, Reuters reported, citing the company. The revocation of the license was prompted by new EU sanctions against Russia.

"Throughout 2022, the European Union periodically imposed additional sanctions aimed at restricting companies’ exports of materials, technology and services supporting Russia’s activities,” the pipeline operator said in a statement as quoted by TASS.

“As a result of new sanctions on September 18, 2022, the export license of South Stream Transport B.V., the operator of the TurkStream offshore gas pipeline, through which Russian gas is transported via the Black Sea for consumers in Turkey and European countries, was prematurely revoked."

"The introduction of new sanctions does not restrict the continuation of gas transportation by South Stream Transport B.V. In this regard, the gas supply of various industries and millions of households in Turkey and European countries will not be affected in the short and long term,” the company said.

The TurkStream pipeline, which has a capacity of 31.5 billion cu m annually, supplies Russian gas to Turkey and Southern Europe. It was launched in 2020 as part of Russia’s efforts to diversify its export routes away from Ukraine.

From its launch in early 2020 and the end of 2021, the TurkStream pipeline carried some 18 billion cu m of gas to Turkey and 16.8 billion cu m to European countries, Turkish media reported early this year.

Now, following the sabotage of the two Nord Stream pipelines, TurkStream remains the only conduit for Russian natural gas to Europe besides the pipelines that pass through Ukraine.

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By Irina Slav for Oilprice.com

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