Russia Proposes Increasing LNG Sales & Investments With Turkiye

Russia is interested in increasing regular liquefied natural gas supplies to Turkiye and is prepared to participate in joint investment projects to develop the gas market there, according to an intergovernmental commission meeting between the two countries. Russian Deputy Prime Minister Alexander Novak has stated that Turkiye had LNG terminals receiving products from all over the world and could also receive Russian LNG.

The parties noted the stability of Russian oil supply to Turkiye. The two sides discuss cooperation between Russian and Turkish companies in petroleum trade products as well as the production and distribution of lubricants.

Both have agreed to promote projects and collaboration opportunities between their respective oil companies, including joint projects in third countries. They also addressed the importance of improving the conditions for partnerships in boosting trade and investment.

“Turkey is among the three largest foreign trade partners of Russia. Bilateral trade turnover has increased 2.3 times in five years. I am confident that we will be able to maintain the positive dynamics in the future and focus on creating favorable conditions for increasing the volume of Russian-Turkish trade turnover, as well as on implementing existing projects and launching new ones. We note with satisfaction the successful cooperation in the energy sector, which is a strategic area of our interaction, including the peaceful use of nuclear energy. The realization of the flagship project on the construction of Akkuyu NPP in Turkey continues. We are ready to implement projects of a promising agenda in any mutually beneficial format,” Alexander Novak said.