Russia aims to increase natural gas cooperation with Turkey

Speaking after the Turkish-Russian Trade and Economic Cooperation meeting held in Moscow, Russian Deputy Prime Minister Alexander Novak emphasized that trade relations with Turkey continue to strengthen. Novak stated that the trade volume between the two countries approached 60 billion dollars last year, an increase of 6.7% compared to the previous year.

Novak expressed that they are working in line with the goal set by President Recep Tayyip Erdoğan and Russian President Vladimir Putin to increase the trade volume to 100 billion dollars. Noting that cooperation between the two countries is concentrated in areas such as energy, industry, transportation, agriculture, and tourism, Novak said that this cooperation will increase employment and tax revenues.

Stating that various joint steps are being taken to make visits by Russian tourists to Turkey more comfortable, Novak said, "We are jointly implementing measures regarding the security of visits and the provision of mechanisms that will allow Russian tourists in Turkey to pay for the services provided."

Underlining that the two countries have significant interaction in the fields of education, culture, and sports, Novak said, "Our relations are developing across a wide spectrum. This is also confirmed at the level of interaction between the leaders of our countries, through constant contacts and the determination of tasks for governments to develop our trade and economic relations."

ADVANCING COOPERATION IN ENERGY

Stating that Russia makes significant shipments of oil, petroleum products, and coal to Turkey, Novak noted that Turkey is in the position of a transit country for shipments to Southeast Europe. Pointing out that the Blue Stream and TurkStream natural gas pipelines are operating successfully, Novak said they aim to maintain and expand long-term cooperation in natural gas supply.

Stating that the construction of the Akkuyu Nuclear Power Plant is ongoing, Novak noted that this project is of great importance for Turkey and that the first unit of the plant will be commissioned in the near future. He also expressed that they are ready to continue cooperation in the construction of new facilities to meet the needs of the Turkish energy sector.

GLOBAL ECONOMIC CHALLENGES

Touching upon the economic difficulties experienced worldwide, Novak said that military conflicts and economic wars have created negative effects on the global economy. Stating that there are fluctuations in global commodity markets, including the oil market, Novak drew attention to the importance of resolving these processes. He emphasized that Russia will continue to develop cooperation with friendly countries, including Turkey.