The agreement signed in Istanbul in October 2016 envisions two pipes with a combined capacity of 31.5 bcm (1.11 tcf) per year, to be complete by the end of 2019.
The deal “implies the creation of a favourable regulatory and legal framework, including tax and Customs regulations, for design, construction and further service treatment of the gas pipeline,” Russia’s Deputy Energy Minister Yuri Sentyurin told Tass news agency.
The ratification of the agreement is a big step toward “a complete recovery of relations with the Turkish Republic,” the deputy chairman of the Federation Council, Ilyas Umakhanov, added.
Turkey ratified the agreement, which would turn it into an export hub for Russian gas to Europe, in late 2016.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.