Ankara to Retain Turkish Stream Project Despite Delays in Construction

Turkey will not abandon projects in the energy sector, including the Turkish Stream gas pipeline, despite construction schedule delays, the deputy undersecretary of economic affairs at the country's Foreign Ministry said Wednesday.

ANKARA (Sputnik) — The pipeline construction was set to begin in June, but the governments of Russia and Turkey have not signed an agreement on the project yet.

"We will not curtail projects in the energy sector…and we will continue the projects related to renewable energy resources. Turkey needs energy, and we are looking forward to implementing this project [the Turkish Stream pipeline] as well as similar ones," Ayse Sinirlioglu told RIA Novosti.

The Turkish Stream is a proposed pipeline with an annual capacity of 63 billion cubic meters that will run from Russia to Turkey beneath the Black Sea. The pipeline will continue to a hub on the Turkish-Greek border, from where it would be extended to Southern Europe.

The cost of constructing the first branch of the Turkish Stream pipeline stands at some $4.72 billion, while the overall price tag for this project is estimated at $12.8 billion, according to Russian energy giant Gazprom.

According to Sinirlioglu, investment in the energy sector will be on the agenda during the negotiations of G20 energy ministers as Turkey holds the G20 presidency this year.