‘South Stream’.Turkey and Russia to establish a $ 1 billion investment

Blerim Abedini, Center for Security Studies and Development, Macedonia (CSSD)

Restoration of relations between Turkey and Russia brought the expected deal these days. By the statement, this project will reduce the risks related to natural gas export to Turkey and Europe. The line inside Turkish borders  is expected to be operational in 2019 year. President Recep Tayyip Erdogan has  spoke at the 23rd World Energy Summit held in Istanbul.

Previous economic sanctions blocked several gasification lines in Europe. The plane crash of Russian military aircraft in Syrian-Turkish border discontinued bilateral relations between Russia and Turkey. It later was overcome with diplomatic initiatives of the Turkish government. Restoration of relations between Turkey and Russia brought the expected deal these days.

In the statement made by Duma, the intergovernmental agreement on the project of Turkish Stream planned to move Russian gas to Turkey via Europe was accepted. Contract was signed by Turkish Minister of Energy and Natural Resources Berat Albayrak and Russian Energy Minister Aleksandr Novak.
By the statement, this project will reduce the risks related to natural gas export to Turkey and Europe.

The line inside Turkish borders  is expected to be operational in 2019 year. These pipelines will have two floods and a total capacity of 31.5 billion cubic meters, each with a capacity of 15.75 billion cubic meters per year. One of the lines will extend to Turkey and being used for Turkey’s needs. Other side, it is planned Europe’s needs, but conditionally if the necessary guarantees are obtained. The line in the Black Sea will be constructed by accumulation of tax earnings.

Allseas plans to use Pioneering Spirit, world’s largest construction vessel, to build TurkStream gas pipeline’s offshore section. Gazprom company will engage in the construction of pipelines. Photo: http://www.gazprom.com/press/gallery/projects/229243/

 

The project was first announced by Russian President Vladimir Putin in December 2014. Now, Turkey and Russia have agreement to establish a $ 1 billion investment fund.

The starting point is in Russkaya in Russia. Distance from 910 kilometers will be laid under the Black Sea. The 610 km section  will follow the canceled South Stream route. Later, it is planned for departing line by South Stream route to Turkey.

President Recep Tayyip Erdogan has  spoke at the 23rd World Energy Summit held in Istanbul. He has talked about investments in the field of energy, by adding the importance of the 3rd nuclear power plant  Ak-Kuyu Nuclear Power Plant in Turkey, as next great project.

Sources:

Newspaper Milliyet in Turkey,   http://www.milliyet.com.tr/turk-akim-anlasmasi-rusya-da-kabul-ekonomi-2382074/

HaberTurk News Agency,  http://www.haberturk.com/gundem/haber/1308381-turk-akimi-anlasmasi-imzalandi

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