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Russia and Turkey are prolonging gas contracts
30.12.2011 08:46
Russia and Turkey are prolonging gas contracts
Taner Yildiz and Alexey Miller.

Officials of Russian Gazprom and Turkish Botas sign commercial documents on gas supplies to Turkey in 2012.


The sides signed an addendum to the Gas Purchase and Sale Contract of 1997 (supplies via Blue Stream) as well as an addendum to the Contract of 1998 (supplies via the Western Route).


The addenda set out the amounts and key commercial terms and conditions for gas supplies from Russia to Turkey in 2012. The signed documents allow increasing contractual supplies to Turkey in 2012 as well as replenishing the Turkish market with required amounts of Russian gas.


The parties pointed out the prompt development and mutually-beneficial nature of the Russian-Turkish partnership in the gas sector. They also highlighted that today's agreements laid a solid foundation for the cooperation deepening in the mid- and long-term perspective.


Cooperation in the gas sector between Russia and Turkey commenced in 1984 when the Governments of the Republic of Turkey and the USSR signed the Agreement on Natural Gas Supply to Turkey.


In 2011 Gazprom's minimum contractual obligations gas supplies to Turkey make up 24 billion cubic meters, however, according to preliminary data, the actual export amount for Turkey is expected to reach 25.8 billion cubic meters. Natural gas is exported to Turkey via two routes: the Trans-Balkan gas pipeline and the Blue Stream gas pipeline. Turkey is the world's second largest purchaser of Russian gas after Germany.


Photo by RIA Novosti



Author: Irina Fomina

Tags: Gazprom     

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