Russian Gazprom's board of directors will review the formation of a joint venture on Sept. 21 with Turkey's Botas for the TurkStream natural gas pipeline project, according to Russian media late on Tuesday.
Russian business daily Vedomosti revealed that the joint project company would be named TurkAkim Gaz Tasima AS.
The Daily also noted that the joint venture would be formed for the construction of the onshore section of the TurkStream natural gas project.
The company will be created on a parity basis for the realization of the TurkStream project's second line on Turkish territory.
The TurkStream project will start from the southern Russian town of Anapa on the Black Sea coast. Pipes will be laid over a 900-kilometer route under the Black Sea to reach the Thrace region of Turkey along the Black Sea coast.
The TurkStream will send Russian gas to Turkey with the first of its two lines.
The second line of the project will carry Russian gas to southern and southeastern Europe.
The total capacity of the dual pipeline system is set to be 31.5 billion cubic meters.
More than 250 kilometers of the first line of TurkStream has already been constructed.