Turkey expects that Russia will reduce prices of its gas under new contracts currently being negotiated by the two countries, a high-ranking official from the Turkish Energy Ministry told Sputnik on Thursday
ANKARA (Pakistan Point News / Sputnik - 10th September, 2020) Turkey expects that Russia will reduce prices of its gas under new contracts currently being negotiated by the two countries, a high-ranking official from the Turkish Energy Ministry told Sputnik on Thursday.
"Our cooperation with Russia today is very important, it is developing well, but companies may have purely commercial motivation. This is understandable. We also have commercial and economic motivation. When BOTAS [Turkey's petroleum pipeline corporation] negotiates new contracts, we should see real progress and real good prices," the official said.
The ministry representative also recalled that the construction of the Turk Stream pipeline was completed in a very short time frame after signing the relevant agreement in 2016 and was currently transporting gas to Bulgaria and other southeastern European counties.
In addition, the official did not exclude the possibility of cooperating with Russia in exploring the recently discovered gas field in the Black Sea.
In late August, Ankara announced that its Fatih drilling ship found what is believed to be the country's largest gas deposits in the Black Sea with an estimated 320 billion cubic meters of reserves. According to Energy Minister Fatih Donmez, the approximate value of the reserve is $65 billion.
