The Federation Council of Russia has approved the law for the ratification of the agreement between the governments of Russia and Turkey on the Turkish Stream pipeline.

The agreement envisages the creation of a favourable normative and legal basis, including a tax and customs regime, for the design, construction and exploitation of the pipeline, stated Yuri Sentyurin, Russia’s Deputy Energy Minister.

Sentryuirin is responsible for the project in the Russian government.

Sentyurin explained that Turkish Stream is intended for the delivery of Russian gas to the territory of Turkey, as well as for Russian deliveries of blue fuel to EU member-states after 2019.

Sentyurin underlined that the new pipeline will not allow Russia to give up completely the transit of gas through Ukraine, but it will help “to considerably reduce the risks related to such transit”.

The agreement on Turkish stream was signed in Istanbul on October 10, 2016.