Putin ratified the agreement on the construction of “Turkish stream”

The President of Russia Vladimir Putin signed the law on ratification of the agreement between Russia and Turkey on building a gas pipeline “Turkish stream”, writes ZN.ua.

“To ratify the agreement between the Russian government and the government of the Turkish Republic on the project of the gas pipeline “Turkish stream”, signed in Istanbul on 16 October 2016,” – said in a document published on the portal of legal information of the Russian Federation on Tuesday, February 7.

Russian media claim that the construction of the pipeline should “significantly reduce the risks” associated with the transit of gas through territory of Ukraine.

Deputy energy Minister Yuri sentjurin has declared that the agreement “envisages the creation of a favourable legal and regulatory frameworks, including tax and customs regimes, for the design, construction and further operation of the pipeline”.

“Turkish stream” is intended to supply Russian gas to Turkey and the European Union bypassing Ukraine after 2019.

Recall, 10 October, Russia and Turkey signed an intergovernmental agreement on construction of gas pipeline “Turkish stream”. On 2 December the agreement was ratified by the Turkish Parliament.

Russian Gazprom and Turkish company Botas signed a Memorandum of understanding on construction of gas pipeline “Turkish stream” on 1 December 2014. It is planned that the pipeline will pass 660 kilometers in the old corridor of South stream and 250 kilometers-within a new corridor towards the European part of Turkey. It is assumed that the supply of gas through the first pipeline will be entirely designed for the Turkish market.