Russia turns up heat up over delays to Turkish Stream contract

Russian Energy Minister Alexander Novak

Russian Energy Minister Alexander Novak

Turkish Stream contract: Construction of the underwater section of the Turkish Stream gas pipeline could end up being delayed if Turkey does not agree terms in the near future, Russia’s Energy Minister Alexander Novak said today.
Novak’s remarks are an indication of the political and economic importance to Russia of the Turkish Stream project that is is due to start transporting gas to Europe via the bed of the Black Sea and then across the Turkish mainland by 2020 – and its anxiety at Turkey’s brinkmanship. Although the pipeline will have great commercial and energy security benefits for Turkey, Ankara is holding out for a bigger discount price than Moscow has currently put on the table. “If construction does not start, it is obvious that the schedule will move,” Novak was quoted as saying.