Russian state energy company Gazprom and the Turkish government have reached a deal on the construction of the land part of the Turkish Stream gas pipeline, which is designed to bring Russian gas to European consumers.
The sides signed a protocol that would allow the construction, previously stalled by a legal rift over gas prices, to go forward.
According to Gazprom, the Russian company and Turkey’s state-owned BOTAS struck an agreement detailing the terms and conditions of the works. The Russian stage giant also noted that the deal “allows to move to practical steps for the implementation of the project.”
The works will be carried out by a joint venture called TurkAkim Gaz Tasima AS. This venture will be owned by Gazprom and BOTAS in equal shares, according to Gazprom.