Archive for February 7th, 2015

Turkey-Russia rapprochement: implications for Azerbaijan’s Euro-integration

Razi Nurullayev, founder and senior expert with “Region” International Analytical Centre (RIAC)

Razi Nurullayev, founder and senior expert with “Region” International Analytical Centre (RIAC)

31 yanvar 2015.

On Dec. 1, 2014 Russian President Vladimir Putin paid an official visit to Ankara, where he met with his Turkish counterpart Recep Tayyip Erdoğan to discuss primarily the trade-and-economic and energy matters. In the joint press-conference, Putin announced that Russia would not continue building the South Stream, the $45 billion pipeline that aimed at bringing Russian gas to the EU bypassing Ukraine, due to the EU’s Third Energy Package and competition requirements. Putin also made a surprising announcement that Russia would extend the existing Blue Stream gas pipeline to Turkey and build a new energy hub on the Turkish-Greek border. The new pipeline will be able to deliver 63 billion cubic meters of gas annually, 14 bcm of which will be delivered to Turkey at 6 percent discounted prices. Read more »