Turkey & Gazprom agree on construction of land portion of Europe-bound Turkish Stream

Turkey & Gazprom agree on construction of land portion of Europe-bound Turkish Stream

Russian state energy giant Gazprom and the Turkish government have reached a deal on the construction of the land-based part of the Turkish Stream branch that will bring Russian gas to European consumers, RT reports.

The parties signed a protocol that would allow the construction, which was stalled by a legal rift over gas prices, to go forward. Gazprom and Turkey’s state-owned BOTAS struck an agreement detailing the terms and conditions of the works, the Russian company said in a statement. It noted that the deal “allows to move to practical steps for the implementation of the project.”

The works will be carried out by a joint venture called TurkAkim Gaz Tasima AS. It will be owned by Gazprom and BOTAS in equal shares, Gazprom said.

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