On December 1, 2014 Vladimir Putin announced the cancellation of the South Stream pipeline, a seven years old, 63 billion cubic meter (bcm) per year and $19 billion project which aim was to provide natural gas to southern Europe while bypassing Ukraine.
The Russian President declared that another project would be developed through Turkey instead with a possible hub linking it to European networks at Greece’s border. Of a similar capacity, this pipeline would provide Turkey with 14 bcm of ...
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