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| Turkey’s parliament ratifies agreement with Russia on ‘Turkish Stream’ gas pipeline – reports | Turkey’s parliament ratifies agreement with Russia on ‘Turkish Stream’ gas pipeline – reports |
| (35 minutes later) | |
| The Turkish parliament has ratified a deal with Russia regarding the construction of a natural gas pipeline dubbed ‘Turkish Stream,’ Millyet newspaper has reported. | The Turkish parliament has ratified a deal with Russia regarding the construction of a natural gas pipeline dubbed ‘Turkish Stream,’ Millyet newspaper has reported. |
| The Grand National Assembly of Turkey voted 210 in favor of the agreement, with only seven opposing and six abstentions, the newspaper and a RIA-Novosti correspondent reported. | The Grand National Assembly of Turkey voted 210 in favor of the agreement, with only seven opposing and six abstentions, the newspaper and a RIA-Novosti correspondent reported. |
| The bill was endorsed by the parliament on Tuesday, just days before Prime Minister Binali Yildirim is scheduled to arrive in Russia for a state visit. | The bill was endorsed by the parliament on Tuesday, just days before Prime Minister Binali Yildirim is scheduled to arrive in Russia for a state visit. |
| Back in mid-October, Moscow and Ankara inked a deal that envisions the construction of two underwater legs of a gas pipeline in the Black Sea, with a maximum capacity estimated at up to 15.75 billion cubic meters of natural gas annually per leg. | Back in mid-October, Moscow and Ankara inked a deal that envisions the construction of two underwater legs of a gas pipeline in the Black Sea, with a maximum capacity estimated at up to 15.75 billion cubic meters of natural gas annually per leg. |
| The construction of Turkish Stream is set to begin in 2017, and should be completed by late 2019. | The construction of Turkish Stream is set to begin in 2017, and should be completed by late 2019. |
| At the end of October, Russian Foreign Minister Sergey Lavrov said that Moscow would be ready to extend Turkish Stream to the EU “only after we have received an unambiguous formal paper that guarantees the implementation of this project” from the European Union. | |
| Presidents Putin and Erdogan signed the intergovernmental agreement to build the pipeline back in mid-October. | |
| The project, which entails an estimated total cost of €11.4 billion ($12.7 billion), was announced in December of 2014 during Putin’s visit to Turkey as an alternative to the canceled South Stream route through Bulgaria. |