Russian energy minister: Turkish Stream back on table

The normalization process between Moscow and Ankara has speed up after high level meetings that have paved the way for the recovery of endangered opportunities like the Turkish Stream gas pipeline



Russian Energy Minister Alexander Novak on Friday said that talks with Turkey have resumed on the Turkish Stream natural gas pipeline project. Speaking to Russian news channel Rossiya 24, Novak said that Turkey wants to export 15.7 billion cubic meters of natural gas from Russia via the planned direct route. "The talks to construct two pipelines with Turkey for the Turkish Stream natural gas pipeline project have restarted. It is planned that natural gas will be carried to southeast Europe via the second pipeline," Novak said.The Turkish Stream project aims 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.However, a lack of progress in the project has been put down to Russia's failure to apply the 10.25 percent gas price discount to Turkey's gas, which the two countries previously agreed on. Both Turkish and Russian officials issued statements about freezing talks on the Turkish Stream project, after Turkey downed a Russian jet that violated its airspace near the Syrian border in November, 2015.A normalization process between Moscow and Ankara started in June, once President Recep Tayyip Erdoğan sent a letter to Russian President Vladimir Putin, saying Turkey regrets downing the warplane. A 45-minute call between two leaders on the day after the letter was sent convinced Putin to call off restrictions on travel and to order the normalization of trade.Giant energy projects were also waiting in line to be recalled. The Akkuyu Nuclear Power Plant, which will be Turkey's first nuclear plant, has been secured since the $22 billion investment deal remained binding. However, the Turkish Stream project was left in limbo and represents a wasted opportunity for struggling Russian economy.The state-owned company of the energy-rich but damaged economy showed that it is ready for dialogue on a potential resumption of the Turkish Stream gas pipeline project, not wasting a day to act after Erdoğan's letter. "Gazprom is and has always been open for a dialogue on the Turkish Stream," Gazprom's official representative, Sergey Kupriyanov, was quoted as saying by Russian TASS news agency.However, the Kremlin has remained cautious and preferred to announce that the project will come to the table again after a high-level delegation visited Moscow this week. On Tuesday, Deputy Prime Minister Mehmet Şimşek and Economy Minister Nihat Zaybekci paid an official visit to Russia to speed up the normalization process. Şimşek also announced that Erdoğan is expected to visit Moscow on Aug.9. During the Turkish delegation's visit, Russian Deputy Energy Minister Yury Sentyurin announced that Turkish and Russian delegates met to discuss the Turkish Stream, although no decision has yet been taken.Novak's announcement on Friday suggests some kind of a decision has been reached, while Energy and Natural Resources Minister Berat Albayrak told representatives of the foreign press on Wednesday in Ankara that realization of the Turkish Stream project depends on three criteria. "We are in favor of any project that serves the interest of both countries, contributes to regional peace and is financially feasible." Albayrak said that they are ready to discuss all projects that satisfy these conditions. "Of course, we will follow the next steps to be taken in the future in this regard."CONTRIBUTED BY AA