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TurkStream pipeline deal ratified

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World Pipelines,

On 7 February, Russian President Vladimir Putin ratified a pipeline deal with Turkey regarding the construction of the TurkStream pipeline project.

This deal will allow Russia to transport natural gas to Europe, via Turkey. According to RadioFreeEurope RadioLiberty, the deal forecasts at least 30 years of Russian-Turkish collaboration on the TurkStream pipeline, which is set to transport gas under the Black Sea to Turkey. From there, one line will carry 15.75 billion m3 of gas to Turkey, while another will transport 15.75 billion m3 of gas to southern Europe.

While the project was announced by Putin in December 2014, Turkish officials ratified the deal on 2 December 2016.

This deal comes amidst resumed negotiations between the countries, after restoring ties that were once soured due to economic tensions.

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