About us | Advertising | Contact | Get Home Delivery | Archive
Nov 21, 2009 Homepage
News
Business
International
Interviews
Columnists
Op-Ed
Arts & Culture
Expat Zone
Features
Travel
Leisure
Life
Cartoons
Women
Health Briefs
Weird But True
Sports
Turkish Press Review
Today's think tanks

Turkey in Foreign Press



istanbul hotels


Business International

Putin: South Stream could be completed before Nord Stream

Finnish Prime Minister Matti Vanhanen and Russian Prime Minister Vladimir Putin held a joint press conference in St. Petersburg, Russia.
Finnish Prime Minister Matti Vanhanen and Russian Prime Minister Vladimir Putin held a joint press conference in St. Petersburg, Russia.
Russian Prime Minister Vladimir Putin said on Sunday that the South Stream gas pipeline project would be built quickly and could even be completed earlier than the Nord Stream pipeline.

Today's interactive toolbox
Bookmark and Share
Video Photo Audio
Send to print Send to my friend
Post your comments
Read comments

Holding a joint press conference with Finnish Prime Minister Matti Vanhanen in St. Petersburg, Putin recalled that Russia's Gazprom and Italian oil group Eni, which are to build the South Stream pipeline together, previously constructed the Blue Stream pipeline, a trans-Black Sea gas pipeline that carries natural gas from Russia into Turkey. Putin noted that he believed it would not be difficult for these companies to work together to build the South Stream pipeline. Putin said he hoped that the Nord Stream project, which is expected to begin operation by 2012, would be built according to schedule.

During Putin, Italian Prime Minister Silvio Berlusconi and Turkish Prime Minister Recep Tayyip Erdoğan's teleconference on energy affairs last week, Putin said the South Stream project might be completed before the Nord Stream project.

The Nord Stream pipeline, which will pump gas from Russia to Europe under the Baltic Sea, bypassing Eastern European transit countries, is being built jointly by Russian energy giant Gazprom, Germany's E.ON and BASF and Dutch gas company Gasunie at an estimated cost of 7.4 billion euros.

Putin said all of the required equipment has already been acquired and the necessary environmental analysis has been completed for the Nord Stream project. A number of natural gas producers and purchasers from European countries are involved in the project, Putin said, adding that the project is also of great importance in that regard. Readying the necessary permits related to environmental and economic issues is highly important for the completion of the project within the scheduled time, he stated. Saying that he hoped the project would be completed in line with their planned timeframe, Putin added that the South Stream pipeline might be completed even earlier than the Nord Stream pipeline, as construction is about to start and the geological and seismic work has already begun. Putin praised the rapid decision making of the Turkish government and asked the Finnish side to do the same thing.

Last week Turkey announced its decision to allow geological exploration in its Black Sea economic zone as part of the South Stream project.

The required permits for the Nord Stream project should be granted by year-end at the latest in order for it to be completed by 2012. The Finnish prime minister assured Putin that the necessary permits would be issued in a timely manner.

27 October 2009, Tuesday

TODAY'S ZAMAN WITH WIRES  İSTANBUL

   

The most read articles of this category

Doğan Yayın to sell 29 pct stake to Axel Springer
Russia’s Putin wants New Year without gas ‘shocks’
‘TL apprecation not sole sign of economic well being’
South Korean envoy calls for investment in Turkey
Bank Asya renews Turkey’s first prepaid debit card, DIT
New firms grow by 24.4 pct in October
CB slashes interest rates to 6.50 pct
Auto output 33.4 pct down in first 10 months
Turkish-Greek business association founded


The most read articles

Davutoğlu presses for solution in Iran nuke deadlock
Prime Minister Erdoğan slams CHP's Öymen over anti-Alevi remarks
Junta had more munitions to carry out Cage action plan
Taraf faces complaint over ‘Cage Operation’ report
Turkish figures rank high on list of world’s most influential Muslims
‘Government plans to concentrate on Makhmour,' says Minister Atalay
US expert links Obama's success to role of Turkey
Swine flu death toll at 93, ministry announces
Doğan Yayın to sell 29 pct stake to Axel Springer
‘Shady groups within TSK challenging the state’

Death wells: Ergenekon's Aceldama

Andrew Finkel on Today's Zaman

Promote Your Page Too