Russia's Gazprom is ready to resume talks on the Turkish Stream pipeline

Russia’s Gazprom is gearing up to resume talks on the adoption of the Turkish Stream gas pipeline project. The topic will also be discussed at the meeting of Russian Minister of Energy Alexander Novak and Turkish Minister of Economy Nihat Zeybekçi, Kommersant reports.

Zeybekçi is the head of the Turkish delegation that arrived in Moscow to conduct negotiations on resuming economic relations between the two countries. Gazprom deputy chairman Alexander Medvedev reiterated on July 26th that the company is ready to resume the project and that "the ball is in Turkey's court.”

The first hurdle that both parties will encounter is the lack of an intergovernmental agreement on the construction of the gas pipeline—something that was not achieved last year. Gazprom did not provide Turkish Botas Petroleum Pipeline corporation a gas price discount, which was included in a package agreement on the Turkish Stream gas pipeline. As a result, Turkey initiated court proceedings against Gazprom over gas prices and now the companies are entangled in a legal battle.

Zeybekçi stated that the intergovernmental agreement will definitely not be signed today. A particularly controversial issue between Moscow and Ankara was the number of gas pipelines to be used. Turkey offered to agree on one line for their own needs, while Gazprom insisted on two lines.

  Russia, turkey, Gazprom, gas corridor