Turkey ready to resume Turkish Stream project, says Russia

Tue 26 Jul 2016 07:06 GMT | 11:06 Local Time

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The prospects of the project will become clear after the meeting of Simsek with Russian energy Minister Alexander Novak.

Turkey confirmed its willingness to resume dialogue with Russia on the construction of the Turkish stream gas pipeline, said Russian Deputy Prime Minister Arkady Dvorkovich on Tuesday after talks in Moscow with Turkish Deputy Prime Minister Mehmet Simsek.  

Dvorkovich noted that the prospects of the project will become clear after the meeting of Simsek with Russian energy Minister Alexander Novak on Tuesday, Interfax reported.

The project [Turkish stream] is in the early stages, “but with the good will of the parties here can go rather quickly,” said the deputy PM.  

In December 2014, Gazprom and Turkish Botas signed a Memorandum on construction of gas pipeline “Turkish stream” (originally planned capacity of 63 billion cubic meters, then it was reduced by half) through the Black sea. He had to replace South stream. But this project did not last long and was frozen in the year 2015 on the background of the conflict between Russia and Turkey due to the Turkish military shot down Russian fighter.

Since the freezing of negotiations with Turkey, the contractor of South stream Saipem has charged “to Gazprom” the claim for €759 million for the termination of the contract and the penalty.  

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