Claims on Gazprom and Turkish market
A news article that appeared on the first page of a leading Russian newspaper “Kommersant�, also received attention in Turkey. According to the claims in the newspaper, Russian energy giant Gazprom is planning to sell stakes in its investments in Turkey and leave the market.
However, these claims are not new and have appeared in various news outlets in Russia since last year.Ìý The latest report could be considered a “messageâ€� for Turkish authorities, which are requested to resolve Gazprom’s problem in Turkey.
This problem is to do with Gazprom’s shares in Promak, a company which Gazprom and Turkish Akfel Holding established together back in 2012. After the coup attempt last year, Akfel Holding was found guilty of having connections with the Fetullah Gulen terrorist organization (FETO).Ìý The company was therefore handed over to government control, which also included Gazprom’s shares.
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Interest in becoming a partner in TurkStream
While claims of Gazprom’s plan to exit the Turkish domestic gas market abound, an important project between Russia and Turkey is running at full speed � the TurkStream natural gas pipeline project.
During the Annual General Meeting (AGM) in Moscow last week, the head of Gazprom Alexey Miller said they are negotiating with European gas companies seeking operational partners for the TurkStream pipeline project.
Gazprom currently owns 100 percent of the project and is the sole operator. The first line of construction of the pipeline is expected to come online in 2018 and the second in 2019.
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China and G20
This week’s two most important events will be the official visit of Chinese President Xi Jinping to Russia and the G20 meeting in Hamburg on July 7.
Russian President Vladimir Putin is expected to hold talks with U.S. President Donald Trump for the first time during the G20 summit and he is also expected to hold talks with Turkish President Recep Tayyip Erdogan.
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