Turkey Sees Cooperation with Russia, Shell as Path to Energy Hub Plans

Turkey is moving forward with its plan to become an energy hub, with Turkish Energy Minister Taner Yildiz saying that Ankara is considering options to strengthen ties with Russia and also with Anglo-Dutch oil and gas company Royal Dutch Shell. 

Yildiz committed to a $300 million investment with Shell. It expects works to start in January 2015.

Meanwhile, he announced studies to understand the feasibility of what he branded as the “Turkish Stream” along with an LNG terminal. 

"The construction of an integrated energy complex could be on the table," he said as reported by Reuters. 

Earlier this week, Turkey clinched an agreement for 10-year LNG imports from Algeria commencing Jan 1, 2015.