Russia, Turkey Keep Ambitious Energy Projects Alive

Russia's energy minister and a deputy prime minister traveled to Istanbul on Dec. 15 to meet with the Turkish energy minister and representatives of Turkish energy firms. On the agenda is a proposed $20 billion, 4.8-gigawatt nuclear power plant in Turkey and an oil pipeline that would connect Turkey's Samsun and Ceyhan ports from north to south. Political motivations are driving Russia and Turkey to keep the plans alive and begin negotiating ownership rights, but STRATFOR remains deeply skeptical of the projects' financial viability.