As part of the Turkish Stream gas pipeline project, Gazprom CEO Alexey Miller has signalled interest in investing in the conversion of power plants to run on natural gas, or building new gas-fired power units. Russia pushes for Turkey to give the necessary permits to implement the strategic gas interconnector in the coming months.
"We are interested in investments related to facilities for conversion of natural gas in Turkey, especially the natural gas consumption sector in western regions," Miller said, underlining that “all the permissions issued earlier for the construction of the South Stream will be used by Gazprom for the Turkish Stream.”
The Russian President Vladimir Putin told reporters this week that the Turkish Stream project will be finished “sooner or later.” He is keen to quickly put in place at least first pipeline phase which ensure raising incremental gas supply to Turkey.
Unsolved arbitration case
Though both countries issued official statements about their “mutual determinations” – an arbitration cause on an earlier-signed gas export contract will have to be solved beforehand.
"We hope that our cooperation with Russia will be improved," Turkey’s energy minister Berat Albayrak said after talks with Mr Miller this week. He indicated that Turkish-Russian relations have “reached a higher level” since a meeting between the Turkey’s and Russia’s heads of state on August 9 than they were before the fighter jet crisis that started on November 24, 2015.
Turkish Stream, a proposed four-line gas pipeline through the Black Sea, would allow Russia to ultimately export a total 63 Bcm of natural gas per year to Turkey. It replaces the South Stream project, which was shelved in December 2014.
According to Gazprom plans, the Turkish Stream pipeline will surface on the shore of the European part of Turkey near Kıyıköy with gas delivery point at Lüleburgaz for the Turkish customers, and a border crossing between Turkey and Greece in İpsala serving as delivery point for the European customers.