Turkish Stream operator to change jurisdiction from the Netherlands to Hungary

South Stream Transport B.V., the operator of Russia’s TurkStream gas pipeline, will move its legal jurisdiction from the Netherlands to Hungary. The announcement was made on Tuesday by Hungarian Foreign Minister Péter Szijjártó.

"Yesterday, someone tried to spread panic-inducing rumors about the company operating the TurkStream gas pipeline. And now the good news is that the company has begun relocating from the Netherlands to Hungary, and no sanctions are hindering its operations," Szijjártó said in a Facebook post.

South Stream Transport B.V. is a Dutch company headquartered in Amsterdam and responsible for the operation of the TurkStream pipeline system, which transports natural gas from Russia through the Black Sea to Turkey and Southern Europe.

The company was founded in 2012 as a subsidiary of Gazprom to plan and build the South Stream offshore pipeline. After the project was canceled, Gazprom retained it and later appointed it as the operator of the Turkish Stream.

"The Turkish Stream is the last remaining route for piped Russian gas to Europe that is still operational.

• The European Union plans to finally abandon the imports of Russian gas from the fall of 2027but Hungary hopes to appeal this decision in court.
• However, in 2026, Hungary will hold parliamentary elections that could lead to a change of government.