Turkey looks set to celebrate the 101st anniversary of the Canakkale War – better known to the rest of the world as the Gallipoli campaign when the Allies of the First World War launched a costly and unsuccessful assault on the Dardanelles – with a ground breaking ceremony to mark the start of construction of the $2.6bn suspension bridge over the Dardanelles Strait, (more…)hurriyetdailynews Read More»
The new axis that has been developing between Istanbul and Moscow in recent months appeared to strengthen even further yesterday when President Vladimir Putin signed a bill ratifying the construction of the Turkish Stream pipeline that will eventually carry natural gas from Russia under the Black Sea to Thrace on Turkey’s border with Greece.
Turkish Stream (more…)
With a third bridge across the Bosphorus already completed last summer and this week’s opening of the $1.2bn Eurasia Tunnel expected to cut the journey time between the Asian and European sections of the city from over an hour and a half down to 15 minutes, Recep Tayyip Erdogan appears to be on track to honour his pre-election pledge (more…)Read More»
Turkish President Recip Erdogan has paved the way for construction of the Turkish Stream pipeline to begin after officially ratifying the Russian-Turkish accord concerning a new natural gas pipeline running from Krasnodar in southern Russia, along the bed of the Black Sea to Turkish Thrace. The announcement (more…)Vedomosti Read More»
Renewable Energy: Russia, Turkey, Ukraine and Serbia are on track to attract $665bn in ‘climate-smart’ investment over the next 15 years, according to a new report from the The International Finance Corporation (IFC), Climate Investment Opportunities in Emerging Markets. Around (more…)Read More»
Turkish Stream talks: Turkey has confirmed that it is ready to continue negotiations about the Turkish Stream gas pipeline project, Russia’s Deputy Prime Minister Arkady Dvorkovich claimed this week, after a meeting between representatives from the two countries’ energy ministries on Tuesday.
His claim was corroborated by Turkey’s Economy Minister Nihat Zeybekci , who confirmed that “political decisions” were “in place to settle the issue of further implementation of the project.
“We are open for construction of the first line of the Turkish Stream from standpoint of Turkey’s need for natural gas,” he added.
Construction of the 1,100km, 63bcm capacity Turkish Stream pipeline intended to deliver Russian gas to Turkey via the Black Sea was initially scheduled to begin in 2014 but was delayed after Moscow and Ankara failed to reach an intergovernmental agreement, and negotiations on the project were suspended after Turkey shot down a Russian jet in Syria in November 2015.
Relations between the two countries began to improve last month after Turkey’s President Erdogan apologised for the incident, and Russia’s support during the recent abortive coup attempt seems to have eased tensions further.
Turkish coup: Turkish Foreign Minister Mevlut Cavusoglu today expressed his country’s gratitude to Russia for its “unqualified” support during the attempted military coup earlier this month and indicated that Presidents Erdogan and Putin would be meeting at next month’s G20 meeting in Hangzhou, when the two men would discuss “the removal of economic barriers and other steps to restore relations.”
According to reports in the Iranian Farsnews media agency last week, the speed with which the coup was thwarted in part due to intelligence supplied to Ankara by Russian listening stations in northern Syria and which may have forced the plotters to move sooner than planned.
Turkish maritime authorities have reopened Istanbul’s Bosphorus Strait to transiting tankers after shutting it for several hours yesterday after the failed coup by sections of the country’s armed forces, as the government in Ankara moved to reassure investors that the economy would not be derailed by a failed coup d’état.
The central bank said that (more…)
Iranian power plants: Turkiah energy company Unit International has reached a $4.2bn deal with Iran’s energy ministry to build seven natural gas power plants across the country with a combined installed capacity of 6,020 megawatts, it announced in a press release issued yesterday.
Work is scheduled (more…)
Turkey’s determination to localise its fintech infrastructure has prompted Paypal to announce that it is halting operations in the country. In a statement released this week, the international payment system said that the decision by Turkey’s Banking Regulation and Supervision Agency (BDDK) to reject its licence application (more…)dailysabah Read More»
Delegates from Turkey’s ruling Justice and Development Party (AK Party) delegates will tomorrow gather in Ankara on Sunday to rubber stamp the appointment of Transport Minister Binali Yildirim as the country’s new Prime Minister and party chairman after the resignation of Ahmet Davutoglu.
While critics (more…)