RSS   Newsletter   Contact   Advertise with us

Turkey offers tax incentives for TurkStream pipeline

Staff Writer | February 2, 2018
The Turkish government has introduced tax incentives for construction of Russia’s TurkStream gas pipeline, according to a statement published in the official newspaper Resmi Gazete.
TurkStream pipeline
Energy   In the exclusive economic zone
“The sides have agreed that taxation will not cover activities of the companies working on fulfillment of a project in the exclusive economic zone of Turkey in the Black Sea as well as on platforms,” it said.

“Engineering works and legal services are also to be released from value-added tax (VAT). Tax and customs incentives will cover vehicles, including vessels, and deliveries of pipelines and other materials, equipment and spare parts.”

The TurkStream pipeline was designed to consist of two branches with a length of over 900 kilometers and a capacity of 15.75 billion cubic meters each.

One of them, to be finished in 2018, is to carry Russian gas to Turkey, while the other is to transit gas to the European countries through Turkey and is to be finished in 2019.