• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 5 days Energy Armageddon
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 14 hours "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 20 hours "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 17 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 21 hours The Federal Reserve and Money...Aspects which are not widely known
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days Сryptocurrency predictions
  • 2 days Goldman Betting on Cryptocurrencies
  • 10 days Putin and Xi Bet on the Global South

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Dutch authorities have withdrawn the export license of the company operating the TurkStream gas pipeline from Russia to Turkey, the company, which is based in the Netherlands, said.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

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News