Russia, Turkey Reportedly Suspend Negotiations on Construction of Turkish Stream

Russia and Turkey reportedly suspended negotiations on the construction of the Turkish Stream natural gas pipeline.

According to media reports, the negotiations were suspended after Russia failed to sign a key agreement on the discount of gas prices.

Back in February, Turkey obtained a 10.25 % discount on the 28-30 billion cubic meters of gas it purchases from Russia.

However the final signature has been dragging for months, Hurriyet Daily informs.

Turkish officials added that another point of disagreement in the negotiations has been the insistence of Russia that Turkey should grant permits for the construction work on four planned lines in the project.

So far, Turkey has granted licences only for the first line.

Gazprom ,which is the Russian partner in the project, declined to comment.

Earlier on Wednesday, Russian Energy Minister Alexander Novak hinted that the construction of an underwater pipeline to Turkey could be delayed if a a related intergovernmental agreement was not signed soon.

Turkish Stream, which was proposed as a substitute to the cancelled South Stream pipeline, is projected to supply natural gas from Russia to Turkey under the Black Sea.

The planned annual capacity of the pipeline is 63 billion cubic metres, with Turkey to take about 14 billion cubic metres, while the rest will be exported to Europe.

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