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Russia and Turkey sign TurkStream construction agreement

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World Pipelines,

On 2 December, the Turkish parliament signed an agreement with Russia regarding the construction of Gazprom’s TurkStream natural gas pipeline.

In total, 210 lawmakers out of 223 voted in favour of the pipeline project. The bill was endorsed prior to Turkish Prime Minister, Binali Yildirim’s, visit to Russia, scheduled on 6 December.

Sergey Jeleznyak, member of the Russian Parliament International Relations Committee and Deputy Secretary General of the United Russia Party, stated: "The ratification of the agreement almost in unison with the Turkish Grand National Assembly is an indication that Turkish politicians want to develop relations with Russia, and I think the Russian parliament will approve this agreement soon."

He concluded: “Our party supports the reestablishment of economic ties and mutually beneficial relations with the Turkish people.”

TurkStream is set to transport Russian natural gas across the Black Sea to Europe. The first let of the pipeline will transport gas to Turkish consumers, whilst the second leg will provide natural gas to southern and southeastern Europe. The pipeline project is estimated to cost approximately US$12.7 billion (€11.4 billion). Construction is scheduled to commence in 2017 and is set for completion in late 2019.

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