Turkey, Russia envisage more joint projects

Turkey plans to carry out more industrial and commercial projects with Russia after the two countries have pushed the button to start Turkey's first nuclear power plant project.

Turkey, Russia envisage more joint projects

Turkey plans to carry out more industrial and commercial projects with Russia after the two countries have pushed the button to start Turkey's first nuclear power plant project.

Russia's Deputy Prime Minister Igor Sechin joined Turkish Energy Minister in Istanbul on Wednesday to take part at a seminar on the project company registered Monday and will work under Turkish laws.

Speaking at the seminar, Taner Yildiz said that Turkey and Russia would continue with several more projects in other sectors.

"From Samsun-Ceyhan crude oil pipeline, which we will build together, to natural gas trade; we will have several strategic cooperation projects in industry and trade," Yildiz said.

In May, Turkey and Russia signed a deal for construction of Turkey's first nuclear power plant in Akkuyu, a small town on the Mediterranean coast, which is expected to cost about $20 billion. Russian state-owned atomic power company ROSATOM is likely to start building the Akkuyu nuclear power plant in 2013 and the first reactor is planned to generate electricity in 2018.

Turkish efforts to build a nuclear power plant have failed four times over the past 40 years, Yildiz said, adding that government's recent move would start a new industrial era for the country.

He said Turkey would see a nuclear culture after technical and paper works are completed. Yildiz added that Turkey would continue to work on nuclear projects as country's economy was growing and its need for energy resources was rising.

"Operating under Turkish state regulations"

Russia's deputy prime minister said that Turkey approved the project company of a nuclear power plant to be constructed in the southern province of Mersin.

Igor Ivanovich Sechin said Turkey approved the project company on December 13, and the company would operate under Turkish state regulations.

"We have agreed with Turkey that the sale tariff of the electricity to be generated in the nuclear power plant will be fairly high, but not as high as we have demanded," Sechin told the joint press conference.

Sechin said the power plant would be safe and secure, and the project company would be responsible for security and safety of the power plant, training of the personnel, and efficient use of the plant for 60 years.

Russia will build four 1,200 megawatt units on Akkuyu site. Turkish state-owned electricity corporation has guaranteed to buy a fixed amount of the plant's output over the first 15 years starting from initial commercial operation at a reported price of 12.35 US cents per kWh, with the rest of the electricity to be sold on the open market by the project company.

On Samsun-Ceyhan crude oil pipeline project, Sechin said two Russian companies, namely Rostneft and Transneft, were foreseen to take part in the project as well as a Turkish and Italian company.

Sechin said the companies were negotiating share of participation among themselves, which seemed to be around 25 percent.

Samsun-Ceyhan pipeline is a planned crude oil pipeline in Turkey from the Black Sea to the Mediterranean oil terminal in Ceyhan. The aim of this project is to provide an alternative route for Russia's and Kazakhstan's oil and to ease the traffic burden in the Istanbul and Canakkale straits.

Also, Sechin said Russia was inviting all Turkish investors to cooperate in banking industry, and Russia would be pleased if Turkey was interested in purchase of shares of Russia's Vneshtorgbank.


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Last Mod: 16 Aralık 2010, 10:30
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