11/21/2018

Turkey and Russia Mark Completion of Offshore Section of Turkstream

President Erdoğan and his Russian counterpart Vladimir Putin marked the completion of the offshore section of TurkStream on November 19 in Istanbul.

 

Speaking at the completion ceremony, President Erdoğan said: “The TurkStream Project, which will transport 31.5 billion-cubic-meter natural gas annually, has many advantages not only for our country and nation but also for our neighbors and the environment. We plan to transfer at least half of the natural gas, transported through here, to Europe. Our critical production and export centers such as Istanbul, Bursa, Kocaeli, Izmir, will have a new supply line. Thus, Turkey will be able to meet both its own and the European countries’ demand for natural gas without experiencing transit risks.”

 

Russian President Putin added that TurkStream and the Akkuyu Nuclear Power Plant will be symbols of the development of relations between Turkey and Russia, noting that his country wants to reach a USD 100 billion bilateral trade volume with Turkey.

 

The TurkStream Project, which will deliver Russian natural gas across the Black Sea to Turkey and then onward to Europe, will have two pipelines of 939 kilometers long each when finished. The first line, designed for Turkey, will meet 35 percent of Turkey’s natural gas consumption and will start delivering at the end of 2019.

turkstream; turkey; russia; investment; infrastructure

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