Novak: Deal on Turkish Stream pipeline may be signed today
Baku, Azerbaijan, Oct. 10
The intergovernmental agreement between Russia and Turkey on the construction of the Turkish Stream pipeline is virtually ready, RIA Novosti reported Oct. 10 citing Russian Energy Minister Alexander Novak.
Novak said that the document may be signed Oct. 10 during the World Energy congress in Turkey’s Istanbul.
The draft intergovernmental agreement envisages the construction of the two lines, Novak said. He went on to add that the first line would be for Turkish consumers.
Russia’s President Vladimir Putin will meet with Turkish and Venezuelan presidents Oct. 10 in Istanbul, as well as will take part in the 23rd World Energy Congress, during which he will address the event’s special session.
The Turkish Stream project is designed to transfer Russian natural gas to Europe via the Black Sea and Turkey. Under Russian state-owned energy giant Gazprom's plans, the Turkish Stream pipeline will be split into four lines with a total capacity of 63 billion cubic meters a year.
In December 2014, Russia scrapped the South Stream pipeline project that would have transported natural gas to Europe via Bulgaria and brought forward the proposed four-line and 63 billion-cubic-meter project that will bypass Ukraine and stretch to the Turkish-Greek border through the Black Sea.