Presidents of Russia and Turkey took part in a ceremony marking the completion of TurkStream gas pipeline’s offshore section, Russian President’s webpage reports and cites Recep Tayyip Erdogan as saying that “Relations between Turkey and Russia have reached their peak”.
The pipeline of 930 km laid at two kilometers below sea level “Is expected to transport 31 bln cubic meters of natural gas per year,” he said, adding that “Natural gas is becoming more important, as is the balance between demand and supply. In this sense, the economic potential of energy projects is very important”.
According to Erdogan, “Turkey has already purchased 387 bln cubic meters of natural gas since 1987”, whereas in 2017, the overall “Bilateral trade grew 30%” and is expected to reach $100 bln. Currently, “Mutual investment accounts for more than $10 bln from each side”.
In his speech, Russia’s President noted that “Extracting and transporting gas is no easy job; it is not simply drilling a hole in the ground and then pumping. This is difficult work involving high technology, both for extraction and transport”. He also stressed that “The cutting-edge technological solutions and the most advanced equipment are used in the construction; the strictest environmental standards and norms are observed”.
According to the President of Russia, “It is impossible to implement projects like this in conditions of growing competition” without political will and courage.