Turkish Stream Negotiations Suspended on Gas Discount, Pipeline Divergencies

Negotiations between Turkey and Russia on the Turkish Stream project have been suspended as the two parties did not apparently agree on the 10.25% gas price discount. The deal reported by Turkish Energy Minister Taner Yıldız in February was not signed by Russian authorities. 

According to Reuters, Turkish officials say that Moscow and Ankara also diverge on the project, as Russia keeps asking the permits for the construction of four planned lines, while Turkey has so far given licenses for the first line.  

On Wednesday, Russian newspapers reported that Russian Energy Minister Alexander Novak voiced the possibility of delays.

Earlier this week, Gazprom said it is well positioned to fund the new gas pipeline projects - Turk Stream, Nord Stream II, and Power of Siberia. 

Meanwhile, Novak said that Moscow could further liberalise the LNG export sector. 

"This niche should not be missed, it should be used. In addition to Gazprom, this is an opportunity for Rosneft and Novatek. Now it is necessary to analyse how foreign markets will react to our companies, so that they do not compete with each other” Novak said in a note released on Tuesday.