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Russia-Turkey relations in energy sector rise to strategic level — Putin

Russia will reduce by 6% gas price for Turkish consumers from January 1, 2015, Russian President Vladimir Putin said

Russian President Vladimir Putin (L) and Turkish President Recep Tayyip Erdogan (R) Mikhail Klimentyev/Press service of the Russian president/TASS

Russian President Vladimir Putin (L) and Turkish President Recep Tayyip Erdogan (R)

© Mikhail Klimentyev/Press service of the Russian president/TASS

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Putin, Erdogan start talks in narrow format

ANKARA, December 1. /TASS/. Russian-Turkish relations in the energy sector have raised to strategic level, Russian President Vladimir Putin said after talks with his Turkish counterpart Recep Tayyip Erdogan.

Russia will increase gas supplies to the Turkish market by 3 billion cubic meters under the Blue Stream project, Putin said. Russia will reduce by 6% gas price for Turkish consumers from January 1, 2015, Putin said.

Russia ready to further reduce gas price for Turkey as its strategic partner, Putin noted, adding that the 6% discount on gas price for Turkey is only the first step. The Russia president also said the free trade regime with Turkey is possible.

Putin has vowed the Akkuyu NPP (nuclear power plant) in Turkey will be built in due time, and all safety requirements will be observed. The Akkuyu nuclear plant is being built by Russia’s state-run corporation Rosatom.

{article_photo:763741:'Russia ready to build South Stream if Europe wants to reduce transit risks — minister':'right':'50'}South Stream construction

In the current situation, Russia cannot launch the South Stream gas pipeline project, the Russian president noted. However, Russia is ready to build another pipeline transportation system to meet Turkey’s economic needs and create additional gas hub on the border, he stressed. "If this idea is considered to be expedient, we can create an additional gas hub for consumers in southern Europe in the Turkish territory on the border with Greece,” Putin said.

Putin stressed that the EU's position on South Stream project is not constructive. Therefore, energy resources will be re-oriented to other regions and to LNG (liquefied natural gas) projects, he added. The Russian president also suggested that Bulgaria demands from EU to repay its loss of profit on the South Stream project.

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Vladimir Putin Turkey Cooperation Trade & Cooperation Bilateral relations

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