Turkey concludes $11.2 billion contract to buy Russian gas

Denmark Says ‘Powerful Explosions’ Caused Nord Stream Pipeline Leaks Denmark’s energy ministry on Tuesday said explosions at a Russian gas processing station off the coast of Sweden last year triggered the leaks at the…

Turkey concludes $11.2 billion contract to buy Russian gas

Denmark Says ‘Powerful Explosions’ Caused Nord Stream Pipeline Leaks

Denmark’s energy ministry on Tuesday said explosions at a Russian gas processing station off the coast of Sweden last year triggered the leaks at the Nord Stream pipeline, a key part of the Russian-Turkish gas trade.

The ministry’s statement was not immediately public.

The Russian natural gas company Gazprom said the leak, which took place in September 2016 near Ventspils, was caused by a malfunctioning valve.

A report by the Danish news agency reported Tuesday said the government in Copenhagen found the explosions at Ventspils in 2016 came from a leaking valve.

The Danish news agency also reported Gazprom said the cause of the leak was not disclosed.

The incident, which took place while the Nord Stream pipeline was being inspected in Sweden, caused energy firms to halt planned supply to their Turkish customers of Russian gas.

The gas cut-off led to the closure of the Turkish-German terminal at TurkStream in November 2016, which left the Turkish economy in the lurch.

The incident led to the collapse of an attempt to buy Russian gas from TurkStream.

Turkish Prime Minister Ahmet Davutoglu said it was natural that Nord Stream could have been affected by leaks and not all Turkish energy firms could have received the gas.

“We will study it. We will make a report, but this is the first time that such an explanation has been made,” Davutoglu told reporters.

The energy ministry in Denmark said the incident did not affect Denmark’s energy security.

The report came as Turkey is set to conclude the $11.2 billion purchase of Russian gas by TurkStream.

The $11.2 billion contract to purchase 25 billion cubic meters of Russian gas has been concluded between Turkey and Russian gas supplier Gazprom.

The tender was held for a number of Russian gas companies.

Turkish Minister of Energy and Natural Resources Nizet Durmaz said that the contract would be valid until the end of 2019.

“Gazprom will supply up to 25 billion cubic meters [of gas], so this contract will last for 25 years,” he told reporters during a press conference in the capital Ankara, the state-run Anadolu news agency reported.

Following the tender, a group of Turkish companies have been in talks with the Russian

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