Gazprom revives TurkStream negotiations

Senior management from Gazprom recently held a meeting with Berat Albayrak, Turkey’s Minister of Energy and Natural Resources.

Offshore staff

ISTANBUL, Turkey – Senior management from Gazprom recently held a meeting with Berat Albayrak, Turkey’s Minister of Energy and Natural Resources.

Both sides reached an agreement on driving forward the procedure for issuing the authorizations required to launch the TurkStream project.

This involves constructing a new gas pipeline through the Black Sea and overland. It will run 660 km (410 mi) along the planned route of the canceledSouth Stream project, and 250 km (155 mi) of a new route toward the European part of Turkey.

The first gas pipeline string will serve exclusively for gas supplies to the Turkish market.

Commercial negotiations on Russian gas supplies to Turkey will continue. In addition, the participants discussed regional cooperation in the energy industry.

Gazprom Chairman Alexey Miller also held talks in Milan with Marc Benayoun, executive vice president of EDF and CEO of Italian oil company Edison.

They discussed a southern route of Russian gas supplies to Europe using the capacities of theITGI Poseidon project, partly connected with a revival of Turkstream.

In February,Gazprom, Edison, and DEPAsigned a memorandum of understanding on natural gas deliveries from Russia across the Black Sea and third countries to Greece and from Greece to Italy.

The developments follow the recent thaw in relations between Turkey and Russia.

09/02/2016

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