Ankara not to abandon Turkish Stream

Baku, September 4, AZERTAC

Turkey will not abandon any projects in the energy field, including the Turkish Stream, Turkish Deputy Foreign Minister for Economic Affairs Ayse Sinirlioglu said.

The pipeline construction was set to begin in June, but the governments of Russia and Turkey have not signed an agreement on the project yet.

"We will not curtail projects in the energy sector…and we will continue the projects related to renewable energy resources. Turkey needs energy, and we are looking forward to implementing the Turkish Stream pipeline project as well as similar ones," she stated.

The Turkish Stream is a proposed pipeline with an annual capacity of 63 billion cubic meters that will run from Russia to Turkey beneath the Black Sea. The pipeline will continue to a hub on the Turkish-Greek border, from where it would be extended to Southern Europe.

The cost of constructing the first branch of the Turkish Stream pipeline stands at some $4.72 billion, while the overall price tag for this project is estimated at $12.8 billion, according to Russian energy giant Gazprom.

According to Sinirlioglu, investment in the energy sector will be on the agenda during the negotiations of G20 energy ministers as Turkey holds the G20 presidency this year.

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