• 5 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 7 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 7 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 8 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 9 hours VW Fails To Secure Critical Commodity For EVs
  • 10 hours Enbridge Pipeline Expansion Finally Approved
  • 11 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 11 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 1 day Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 1 day Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 1 day EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 1 day Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 1 day Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 4 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 4 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 4 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 5 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 5 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 5 days India Needs Help To Boost Oil Production
  • 5 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 5 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 5 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 5 days District Judge Rules Dakota Access Can Continue Operating
  • 6 days Surprise Oil Inventory Build Shocks Markets
  • 6 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 6 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 6 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 6 days Oil M&A Deals Set To Rise
  • 6 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 7 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
The New Challenger To Lithium Batteries

The New Challenger To Lithium Batteries

The lithium-ion battery is head…

New Iran Sanctions Could Send Oil Prices Higher

New Iran Sanctions Could Send Oil Prices Higher

Fresh sanctions on Iran could…

Gazprom Gets First Ankara Nod To Restart Turkish Stream

Putin Erdogan

Russia’s Gazprom said on Wednesday that it had received—via diplomatic channels—the first permit from Turkish authorities for the construction of the offshore leg of the Turkish Stream gas pipeline in a sign that Russia and Turkey are definitely re-launching the project.

“I would like to commend our Turkish partners for being so prompt and cooperative at the first stage of the TurkStream project,” Alexey Miller, Chairman of the Gazprom Management Committee, said in the company statement.

A few weeks after the attempted coup against Turkish President Recep Tayyip Erdogan, Gazprom’s deputy chairman Alexander Medvedev said the Russian giant was ready to resume talks with Turkey to revive the project, and expected Turkey’s next move.

Gazprom and Turkish company Botas had agreed in December 2014 to pursue the Turkish Stream project, which was estimated to have an annual capacity of 63 billion cubic meters of gas. The parties planned the first pipeline string to be used exclusively to supply the Turkish market.

However, the project was suspended in 2015 as the relations between Russia and Turkey soured following Ankara’s shooting down of a Russian military jet in November of that year. But the Turkish Stream project was back on the agenda after Turkey apologized for the incident.

A couple of weeks ago, Gazprom officials arrived in Ankara to discuss the Turkish Stream project. Now that Turkey has apologized, the two countries are back together in the international energy game.

With Russia and Turkey acting in concert, Europe will have little left to do but to continue to depend on energy coming from countries it doesn’t really like and cannot really influence in a favorable direction. Russia has the oil and the gas, and Turkey has the pipelines and the Bosphorus, where 3 percent of global oil exports pass every day.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

 



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News