Middle East | Russia may freeze Turkish Stream gas project -- Gazprom sources

Russia may freeze Turkish Stream gas project — Gazprom sources

December 1, 2015 2:47 PM (UTC+8)

 

(From Reuters)

By Denis Pinchuk and Olesya Astakhova

Russia may freeze work on the Turkish Stream gas pipeline project for several years in retaliation against Ankara for the shooting down of a Russian air force jet, two sources at Russian gas giant Gazprom told Reuters.

A view shows the company logo of Gazprom company installed on the roof of its office building in Moscow August 10 2015
A view shows the company logo of Gazprom company installed on the roof of its office building in Moscow August 10 2015

The Kremlin has imposed trade sanctions on Turkey over last week’s jet incident although so far the measures have not affected the Russian energy exports to Turkey that are the core of their economic relationship.

Russian Economy Minister Alexei Ulyukayev said on Tuesday that no decisions had been made on the project and on a nuclear power station that Russia is building in Turkey.

Freezing work on the pipeline – intended to pump Russian gas, via Turkey, into southeastern Europe while bypassing Ukraine – would have a more symbolic than practical effect because the project is already beset by delays and doubts over its viability.

Any freeze would also not affect another Russian project to boost gas exports to the north of Europe. Gazprom is going ahead with plans to expand the Nord Stream pipeline to Germany despite resistance from several ex-communist states in eastern Europe.

Gazprom sources said no decision had been taken inside the company about changes to the Turkish Stream schedule in response to the row with Ankara, but added that they were awaiting instructions from President Vladimir Putin. Read more

 

Comments