Erdogan: Turkey will buy Russian gas
Erdogan says Turkey will buy Russian gas from the South Stream undersea pipeline project via a hub near its border with Greece
Turkey will buy Russian gas from the South Stream undersea pipeline project via a hub near its border with Greece, President Tayyip Erdogan told a joint news conference with Russian President Vladimir Putin on Monday.
“Both sides are working on turning the preliminary deal into a definite, finalized deal as soon as possible,” Erdogan said.
“These steps will include us benefiting from (the project) to meet our natural gas needs and forming a distribution hub on our Greek border to meet the demand from there.”
Meanwhile, Russia’s Gazprom on Monday cancelled a project to construct the South Stream pipeline to supply gas to southern Europe - an apparent casualty of the dispute between Moscow and the West over Ukraine.
The announcement was made after Putin said earlier on Monday that Moscow could not carry on with the South Stream project if the European Union was opposed to it.
“The project is closed. This is it,” Gazprom chief executive Alexei Miller told reporters.
The planned $40 billion Gazprom-led pipeline was supposed to cross the Black Sea to southern Europe via Bulgaria and had been intended to start supplying gas next year.
Western powers have introduced economic sanctions against Russia over the Ukraine conflict and Europe is keen to lower its dependence on Russian gas supplies.
China, Russia sign accord on second gas routeThe cooperation with China gives Russia a boost at a time when Washington and the European Union have imposed sanctions against Moscow Energy
U.S. overtakes KSA as biggest oil producerU.S. production of crude oil, along with liquids separated from natural gas, surpassed the production of both Saudi Arabia and Russia Energy
Russia could restrict gas to Ukraine if no prepayment in MayRussia's Gazprom could restrict gas supplies to Ukraine if Kiev fails to pay Energy
Russia’s Gazprom says Ukraine owes extra $11bn for gasA source said the $11.4bn was in addition to the $2.2bn Naftogaz already owes for supplies in 2013 and 2014 so far Energy
Minister: Turkey, Russia agree on boosting gas pipelineEnergy Minister Taner Yildiz says two countries agree to raise capacity of Blue Stream pipeline Energy
Minister: Turkey to seek discount in Russian gas priceTurkey depends on imports for almost all of its energy needs, and Russia is its biggest gas supplier Business
Minister: Algeria to double gas production in 10 yearsAlgeria is the third largest supplier of natural gas to Europe after Russia and Norway Energy