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Russia, Turkey may set up joint venture to build second line of Turkish Stream — minister

October 10, 21:23 UTC+3
Negotiations on the construction of the third and fourth lines of the Turkish Stream are not carried yet, according to the Russian energy minister
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© Ruslan Shamukov/TASS

ISTANBUL, October 10. /TASS/. A Russian company will deal with the offshore segment of the Turkish Stream pipeline, a Turkish company will deal with the onshore segment of the first line and a joint venture may be set up to construct the second line, Russian Energy Minister Alexander Novak said on Monday.

"A Russian company will built and own the offshore segment; a Turkish company, most probably Botas, will own the onshore segment for Turkish consumers [the first line - TASS]," the minister said.

"A joint venture will be established" for the second line, Novak said. Russia will in any case own the offshore pipeline segment. "A Russian company will own and operate the whole offshore segment, both lines," the minister said. This is stipulated by the agreement, he added.

Specific parameters of setting up the joint company are not set out in the document, Novak said. The joint company will manage construction and operate its gas pipeline segment, he added. "Project timeline - December 2019 [the deadline to build both lines of the gas pipeline - TASS]," the minister said.

Negotiations on the construction of the third and fourth lines of the Turkish Stream are not carried yet, Novak added.

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