ANKARA AND MOSCOW SET UP A JOINT VENTURE

Economy
Sosyal Araclar
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Turkey and Russia could establish a joint venture to construct the second line of the Turkish Stream gas pipeline project, said Dr. Volkan Özdemir, head of the Institute for Energy Markets and Policies. Özdemir noted that there is no problem on the first line of the gas pipeline Project, as President Recep Tayyip Erdoğan and his Russian counterpart signed a deal to establish the line on Monday.

According to the agreement, the construction will start in 2017 and end in late 2019. The intergovernmental deal on the pipeline also envisioned the construction of two underwater legs in the Black Sea, with the annual capacity of 15.75 billion cubic meters each.

A Russian company will operate the offshore segment, while a Turkish company will run the onshore segment, he said.

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