Russia and Turkey Sign Agreements on Oil and Gas Projects

Russian Prime Minister Vladimir Putin and Turkish Prime Minister Recep Tayyip Erdogan have signed agreements that will focus on the construction of new oil and gas projects.

Putin addressed the importance of the agreements shortly after his visit to Ankara ended saying they would “open the road to new major projects in the energy sector.” One of those projects would be the construction of a pipeline, the South Stream, through Turkish waters in the Black Sea.

The South Stream pipeline would open a new route for Russia to supply natural gas to Europe, something Moscow has been trying to establish for some time. Over the past few years Russian gas shipments to Europe have been disrupted due to disputes with Ukraine and a new, more reliable, pipeline could prevent such disruptions.

As for Turkey, the country is looking to build itself as an energy hub and the new agreements with Russia would help further establish that goal.

In addition to the South Stream pipeline Putin and Erdogan signed an agreement that would see Russia assist in the construction of Turkey’s first nuclear power station.

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