Botas and Gazprom reach deal on Mid East sales

Turgut Gur, head of the Turkish-Russian business council, said that a deal had been clinched to transport the gas through the Blue Stream pipeline and to the Mediterranean port of Ceyhan. he gas will ulimately be destined for Israel, Syria and possibly other Middle Eastern nations, Gur said. Turkey will construct storage depots and a terminal for exporting the gas.

Israel plans to boost its natural gas use to account for 25% of its energy needs by 2025. Gas represents less than 1% of its balance currently, and Israel and Russia agreed in June to study the viability of long-term gas contracts. Trading partners Turkey and Israel have said they are considering building an underwater corridor for natural gas, electricity and crude oil.

Turkey buys most of its natural gas from Iran and Russia, but has complained about a glut of gas from the $3.5 billion Blue Stream pipeline, the world’s deepest pipeline that traverses the Black Sea seabed. The two nations last year avoided international arbitration after resolving a dispute over the price and amount of the gas.

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