Russia Cautious on Gas Link to Turkey Despite Thaw in Relations
MOSCOW, June 30 (Reuters) - Russian officials were cautious on Thursday about revisiting plans for the construction of an underwater gas link to Turkey, despite a breakthrough in relations between Moscow and Ankara.
Russia broke virtually all economic ties and banned tourists from visiting Turkish Mediterranean resorts after a Turkish jet downed a Russian plane on a mission in Syria last November.
On Wednesday, after Turkish President Tayyip Erdogan expressed regret in a letter to his Russian counterpart Vladimir Putin, Moscow pledged to revive mutual relations.
Russia has long harboured plans to build a pipeline along the bed of the Black Sea to Turkey and then onto southern Europe bypassing Ukraine - the main route of Russian gas to Europe - due its numerous disputes with Kiev, including over gas prices.
The Kremlin said on Thursday it was premature to say whether the pipeline project named TurkStream, which was shelved after the Russian bomber was downed, would be resumed.
"It's too early to say now what routes will finally be chosen and enter a development stage," Kremlin spokesman Dmitry Peskov told reporters on a conference call.
Russian gas supplies to Europe, where state-controlled giant Gazprom accounts for a third of supplies, have been increasingly politicised over Moscow's role in Ukraine.
Europe, meanwhile, has been looking for other fuel sources, such as liquefied natural gas from Asia and the United States.
Turkey used to be Russia's second-largest buyer of gas after Germany but slipped to third place this year behind Italy.
Gazprom Chief Executive Officer Alexei Miller said the European Commission should first give TurkStream priority status while Energy Minister Alexander Novak said the issue was about the readiness of Europe and Turkey to implement the project.
Russia had initially planned to send about 63 billion cubic metres (bcm) of gas year via the so-called South Stream pipeline to Bulgaria but switched the destination to Turkey due to resistance from Europe.
Gazprom's Deputy CEO Alexander Medvedev told reporters construction of the first phase of TurkStream could be only implemented after an agreement between the governments of Russia and Turkey.
(Additional reporting by Jack Stubbs and Dmitry Solovyov; writing by Vladimir Soldatkin; editing by David Clarke)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call