Date :
25/12/2016
TurkStream Gas Pipeline Project is approved by the Council of Ministers of the Republic of Turkey
The agreement between Turkey and Russia concerning the TurkStream Gas Pipeline Project (the ‘Agreement’) has been approved by the Council of Ministers of Turkey on 20 December 2016 and published in the Official Gazette dated 24 December 2016 and numbered 29928.
By Abdülkadir Güzeloğlu
& Fatma Esra Güzeloğlu
25 December 2016
The agreement concerning the TurkStream Gas Pipeline Project was signed on
10 December 2016 in Istanbul and was found to be eligible for approval by the
General Assembly of the Turkish Grand National Assembly by the Law
dated 2 December 2016 and numbered 6765.
The Agreement
shall enter into force following the receipt of the last written notification
by the Parties through diplomatic channels of the completion by the Parties of
their respective internal legal procedures required for entry into force of the
Agreement and shall remain in force for the initial period of 30 years and may
be extended. Russia is also anticipated to conclude its internal procedure in
the upcoming days.
TurkStream Gas Pipeline
Project is expected to provide a vibrant stimulus to the economic outlook
between the two countries in a sustainable fashion.
Should you need any
information regarding legal infrastructure
of Turkey within domestic and international framework, do not hesitate to
contact us at info@guzeloglu.legal
Author:
Abdülkadir Güzeloğlu & Fatma Esra Güzeloğlu
Relevant Fields:
Arbitration