Russia unlikely to stop gas supply to Turkey – Erdogan

Business Materials 14 December 2015 10:42 (UTC +04:00)
Turkey is an important energy market for Russia
Russia unlikely to stop gas supply to Turkey – Erdogan

Baku, Azerbaijan, Dec. 14

By Rufiz Hafizoglu - Trend:

Turkey is an important energy market for Russia, Turkish President Recep Tayyip Erdogan said Dec.14 in an interview with the Turkish Haberturk newspaper.

The president went on to add that with this in mind, he doesn't expect Moscow to stop the supply of natural gas to Turkey.

In his words, Turkey needs gas as much as Russia needs a market for its sale.

Earlier, some Turkish media reported that after Russian bomber was downed in Turkish airspace November 24, Moscow may stop gas supplies to the country as a sign of protest.

In accordance with two contracts signed with Turkey, Russia is committed to annually supply gas to the country amounting to 20 billion cubic meters.

The first contract to supply Turkey with 16 billion cubic meters of Russian gas was signed in 1997, and it expires in late 2025. The second contract, for the supply of four billion cubic meters of gas, was signed in 1998 and expires in 2021.

In 2014, Turkey was the second largest importer of Russian gas after Germany - Ankara purchased 27.3 billion cubic meters of gas from Gazprom.

Turkey is also importing 6.6 billion cubic meters of gas per year from Azerbaijan on the basis of a 'take or pay' contract. Turkey also buys gas from Iran. Ankara also has agreements with Algeria and Nigeria for the supply of 4.4 billion cubic meters and 1.2 billion cubic meters of liquefied gas per year, respectively.


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