Russia Suspends Talks With Turkey On TurkStream Pipeline

As TASS reported earlier with reference to a source familiar with the process of negotiations, consideration of the Turkish Stream project will be suspended due to termination of operations by the intergovernmental commission between Russian Federation and Turkey.

Speaking in Moscow, Novak slammed a recent letter of opposition to Nord Stream 2 signed by energy ministers from seven eastern European countries and also confirmed speculation that talks between Moscow and Ankara over the planned TurkStream pipeline were now frozen.

The announcement came hours after Russia said it halted talks on building a prospective pipeline to Turkey amid tensions over the downing of a Russian warplane. The pipeline was originally supposed to transport 63 billion cubic meters of gas annually – 16 billion to Turkey and 47 billion to the Turkey-Greece border.

The publication Global Risk Insights has described both Turkey and Russian Federation as being dependent upon the other when it comes to natural gas.

Negotiations over the pipeline also hit snags even before Turkey shot down the Russian jet. “As the commission’s activity was suspended, the work on the Turkish Stream agreement was suspended as well”, Novak has been quoted as saying by Sputnik news agency. “As of now Turkey has not turned to us with this proposal”, Miller said, adding that in case such an offer follows it will be considered. And Russia is economically dependent on selling its energy – oil and gas revenues provide almost half of the government’s revenue.