Turkey freezes ‘Turkish Stream’ (UPDATE)

Oil&Gas Materials 30 July 2015 19:49 (UTC +04:00)

Details added (first version posted on 18:29)

Baku, Azerbaijan, July 30

By Rufiz Hafizoglu - Trend:

Turkey froze the 'Turkish Stream', the Haberturk newspaper reported citing sources in the Turkish government.

Reportedly, the reason for freezing the project is that the parties can't come to a final agreement.

Earlier a source in the Russian Energy Ministry told reporters that Russia sent a draft intergovernmental agreement to Turkey on the first stretch of the 'Turkish Stream', and that there will be a separate document on other stretches.

"We sent (a draft intergovernmental agreement) on the first stretch... The Russian side prepared its proposals on the first stretch of the 'Turkish Stream', and sent them to the Turkish side," said the source.

Previously it was reported that there are no commitments between Ankara and Moscow for the construction of the 'Turkish Stream', which was also confirmed in May by Turkey's Ambassador to Russia Umit Yardim.

Russia's Gazprom hasn't so far appealed to Turkey's Energy Market Regulatory Authority (EPDK).

Without the EPDK's license it isn't possible to sell oil and gas in Turkey, nor is it possible to transport hydrocarbons through its territory.

Aside from that, Turkey's Environment and Urban Planning Ministry previously told Trend that no appeals were received from Gazprom on assessment of environmental impact from the 'Turkish Stream' gas pipeline's construction.

The 'Turkish stream' project involves the construction of a gas pipeline with a capacity of 63 billion cubic meters of gas a year from Russia to Turkey via the Black Sea.

The gas pipeline is to consist of four stretches bringing up to 47 billion cubic meters of gas to Turkey's border with Greece.

Edited by CN


Follow the author on Twitter: @rhafizoglu