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Revived Russian-Turkish gas project is less ambitious

Content type:: Expert Briefings
Location:: TURKEY/RUSSIA
Keywords associated with this article:: Geographic: Turkey ME/NAF Russia Azerbaijan Balkans Bulgaria EU Greece Ukraine TURKEY/RUSSIA

Topical: economy industry international relations politics energy gas government public sector talks construction corporate nuclear energy prices transport
ISSN:: 2633-304X
Citation:: Oxford Analytica (2016), "Revived Russian-Turkish gas project is less ambitious", Expert Briefings.
https://doi.org/10.1108/OXAN-DB213164

Tuesday, August 23, 2016

Subject

The decision to restart the TurkStream natural gas pipeline from Russia to Turkey.

Significance

The agreement on August 9 between Russian and Turkish Presidents Vladimir Putin and Recep Tayyip Erdogan to resume the TurkStream project relaunches their partnership in the energy sector. This had been frozen as a result of Turkey's shooting down of Russian Su-24 jet last November.

Impacts

Turkey could start importing up to 15.75 bcm additional natural gas under the Black Sea by 2019.
Such a reduced amount compared with the original plan would seem to allow room in the Turkish gas market for rival suppliers.
TurkStream could be extended into the EU only if the European Commission and Gazprom compromise on third-party access to the pipeline.

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