RusEnergy

SOCHI, July 18 (RIA Novosti) - Russia might participate in the construction of new oil and gas pipelines in Turkey, Russian President Vladimir Putin said Monday during a press conference with Turkish Prime Minister Recep Erdogan. "We must provide for the Blue Flow project to reach its projected capacity of 16 billion cubic meters a year, not excluding the possibility of building a new gas pipeline," Putin said. The Blue Flow natural gas pipeline was built under a 1997 Russian-Turkish intergovernmental agreement to directly supply Turkey with Russian gas through the Black Sea and complement the gas transportation corridor linking Russia and Turkey through Ukraine, Moldova, Romania and Bulgaria. Blue Flow is to reach its projected capacity by 2010. Putin also said Russia was ready to join the Turkish gas distribution networks in the course of privatization and that Russia is willing to develop cooperation and increase oil and gas supplies. "We are ready to construct large underground storage tanks in Turkey, use gas pipelines under construction and participate in the construction of new ones to transfer our energy resources through Turkey to third countries, including Southern Europe," Putin said. He said Russia will continue the energy dialogue with Turkey and pledged to rigorously comply with commitments on gas supplies, including through the Black Sea pipeline. Erdogan said Turkey was ready to display political will if that is what bilateral gas cooperation requires. He said despite its projected capacity of 16 billion cubic meters a year, Blue Flow carries no more than 4.7 billion. "It means there are great possibilities to raise supplies," he said. "One of the main goals is to extend the existing pipelines to Ankara and southward to Ceyhan. Our authorized organizations will continue working on that and we are ready to display political will to solve such issues if necessary."