The Gazprom Board of Directors approved the Company's strategy aimed at diversifying its export routes and increasing the Russian gas competitiveness.

It was noted that gas supply alternatives as well as enhanced reliability and safety of supplies were of primary importance to make Gazprom's products attractive for international markets over a long term.

With a view to provide stable and well-balanced supplies of Russian gas to Europe as well as to mitigate the risks related to gas transit via third countries, Gazprom makes great efforts to expand the existing gas transmission routes and to build up the new ones.

A project for constructing a new gas pipeline with a capacity of 63 billion cubic meters from Russia to Turkey has entered the execution stage. The gas transmission route will be laid via the Black Sea and will annually supply up to 47 billion cubic meters of gas to the Turkish-Greece border. The gas pipeline will represent the alternative export route, which, in combination with highly reliable Nord Stream, Blue Stream and the Yamal - Europe gas pipeline, will secure the whole Russian gas exports beyond the CIS and will make it possible to abandon the transit corridor via Ukraine.

Tags: Gazprom