The World Energy Council’s 23rd World Energy Congress was held in Istanbul between 9 and 13 October 2016. The signing of the intergovernmental agreement (IGA) between the Republic of Turkey and the Russian Federation concerning the TurkStream Gas Pipeline Project was the headliner of this international event.
The TurkStream IGA envisages the construction, commissioning and operation of a new gas pipeline system to trans- port natural gas from the vast reserves at the disposal of the Russian Federation to Turkey and south-eastern Europe. The project has a maximum technical design capacity of 31.5 billion cu m per annum, approximately half of it to be delivered to Turkey’s natural gas transmission network operator, BOTAŞ (Boru Hatları ile Petrol Taşıma Anonim Şirketi), after an on-shore crossing of 900 km through the Black Sea and landing onshore to reach the receiving terminal in the Kırklareli province of Turkey on the Black Sea coast, before moving the natural gas further west to European markets. The IGA envisions commissioning of the full capacity of the entire pipeline system before 30 December 2019.
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First published by Chambers and Partners, Global Practice Guides, Energy: Oil & Gas, Turkey – Trends & Developments 2017.