Gazprom’s Refocus on Europe: The Replacement of the South Stream Pipeline with the Turkish Stream Pipeline
Why did Gazprom cancel South Stream and replace it with Turkish Stream? In addressing this question, the author examines the debate surrounding the need for the Turkish Stream pipeline, which divided interviewees. Some regarded this project as part of Gazprom’s profit-oriented approach in the context of the threat to its market share amidst liberalization in Europe, its largest export market. However, others believed there is no demand for the project. Based on interviews conducted with experts in the energy sector as well as through corporate data, the paper concludes that the decision to replace the pipeline was part of Gazprom’s strategy to tackle the challenges it has faced in the European market in order to secure its position in that market.
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