Turkey Signs Gas Deal with Russia’s Gazprom

ANKARA(Reuter)–Turkey Friday signed an agreement with Russian gas giant Gazprom to build an undersea pipeline to carry natural gas to Turkey–Anatolian news agency reported.

Under the agreement–Turkey will receive eight billion cubic metros of gas annually until the year 2000 and 16 cubic meters annually from the year 2003 through a pipeline under the Black Sea connecting Izobilnoye in southern Russia to the Turkish port of Samsun.

The pipeline is part of a landmark $13.5 billion–25-year agreement signed with Gazprom in April. Officials said at the time that the pipeline could cost around $3.3 billion.

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