Nuclear industry news


In Istanbul, negotiations between Russian President Vladimir Putin and Prime Minister of the Republic of Turkey Recep Erdogan were held


Russian President Vladimir Putin paid a one-day visit to Turkey. The negotiations with Prime Minister of the country – Recep Erdogan – were held at the residence of the head of the government - in a palace on the European shore of the Bosporus. The negotiations in both the narrow and the expanded membership were held without press. After the Russian-Turkish top level Cooperation Council, in which key ministers of the two countries participated, Vladimir Putin and Recep Erdogan held an extended joint press conference. 


"The trust-based and open nature of our conversation and the level of economic ties gives us a reason to believe that we are here not simply as partners and neighbors, but we arrived in a friendly country as well", this was the first thing said by Vladimir Putin at the press conference.

The two leaders briefly discussed the issues of the negotiations – they talked over economic cooperation, issues of education of students from Turkey in Russia, constructing a nuclear power plant in Turkey. But the main issue was Syria. Russian President said that it was not possible to find a common approach to the methods of resolving the problem, however, he asked the Minister of Foreign Affairs to hold another round of negotiations.

In particular, Russian head said in his speech: "I ​​shall single out joint plans for the construction of the first nuclear power plant in Turkey – Akkuyu. This is a promising and large-scale project. I would like to note that the investment is very large – 20 billion dollars – it was taken by the Russian side; the project will be fully funded by Russia. At that, at least 25 percent of the funding will be directed to the creation of new jobs in the Republic of Turkey…

... I want you to notice that over a hundred students from Turkey are being trained in relevant specialties in this field in the Russian Federation. That is, in fact, if the project is realized, and it has been running to plan by far, an entirely new branch of competence will be created in Turkey – high-tech ...

... In conclusion, I would like to thank Mr. Prime Minister and all of our Turkish friends once again for these very constructive and fruitful negotiations. We agreed to hold the fourth meeting of the top-level Cooperation Council in Russia in 2013.

In response to journalist’s question – are there any potential risks for the project? – Vladimir Putin said:

“Prospects of NPP: I have already said that, first of all, everything is on schedule; there are no delays, no failures. We hope that our Turkish partners will appreciate the risks that lie on the Russian side. Let me repeat it: we completely took the funding of $20 billion on ourselves and we rely on support of Turkish government.

So far I do not see any threat to this project. It is not only construction of the plant itself; it is about creating a whole new high-tech industry in Turkey, including preparation of national personnel. I am sure that there is no other way and that the Turkish side is interested in this project. We are interested too, so I see no threats to the project at that time.”


The economic relations between Russia and Turkey are strategic ones.


“Honest dialogue between the two countries opens strategic prospects in the development of relations. Thanks to the joint efforts, our countries will reach considerable success. We will bring the trade turnover to $100 billion a year and could even exceed this level”, – the Prime Minister of Turkey Recep Erdogan said at the press conference. According to him, by the end of this year “it is expected that the volume of trade and economic relations between Russia and Turkey will amount to 35 billion dollars”. “Our relations have entered into a period of rapid development. Russia is the second biggest trade partner of Turkey”, - the Prime Minister of Turkey said.


With regard to the project NPP "Akkuyu", Recep Erdogan noted that in Turkey it is the largest project to date in terms of funds obtained. “Earlier, the project was granted $ 700 mln,  recently Rostatom increased the authorized capital by additional $ 800 mln. In total, the amount will reach $ 2.4 bln. – it will make the construction of this NPP our largest joint project”, - said the Prime Minister.

Following the visit of the Russian President Vladimir Putin in Istanbul, Russia and Turkey have signed 11 cooperation agreements, according to ITAR-TASS.

State Corporation Rosatom and the Ministry of Energy and Natural Resources of Turkey signed a joint statement on the NPP Akkuyu project.

In the presence of the Russian President and Prime Minister of Turkey, the cooperation agreement to establish a joint venture in the field of marketing was signed.

Two Memorandums of Understanding was concluded between Sberbank and export-credit Bank of Turkey and Agency for attraction of investment in Turkey.

Memorandums of Understanding was signed between diplomatic academies of the two countries, in addition the Memorandum on Cooperation was signed for combating money laundering and terrorist financing.

The mid-term program was approved for trade-economic and scientific-technical cooperation between governments for 2012-2015.


For reference:

Russia is second only to Germany among the major trading partners of Turkey and Turkey is the seventh country in the foreign trade turnover of Russia. In 2011, the volume of trade between Russia and Turkey went up by 26% to $ 32 billion. From January to September this year, turnover increased by 14.3% to $ 25.5 billion.

Energy resources (72.6%), metals and metalware (16.7%) dominate in Russian exports to Turkey, import from Turkey is primarily machinery, equipment and vehicles (31.3%), food (24.7%) and textile fabrics (18.3%).

The accumulated Russian direct investments in Turkey in mid-2012 reached $ 1.37 billion.

In 2011 more than 3.5 million tourists from Russia visited Turkey. In 2011, the agreement came into force on terms of mutual trips of citizens, which has abolished visas for citizens of Russia and Turkey arriving to Turkey and Russia for up to 30 days.


Previous meeting between Russian President Vladimir Putin and the Prime Minister of Turkey Recep Erdogan was held on July 18, 2012 in Moscow. At that time, with regard to NPP Akkuyu Turkish leader said: “I am confident that work performance as scheduled will nullify the initiative of foes of nuclear power development”.  Erdogan called the collaboration in nuclear energy “the most significant investment”. Vladimir Putin also noted “effective cooperation in the energy sector”. He clarified that he meant “not only hydrocarbons trade, although Turkey is the second largest consumer of Russian raw materials, but also the cooperation in high technology, including the construction of a nuclear power plant". The Russian leader then thanked Recep Erdogan for his efforts in the development of bilateral relations, so that they "went to a very high standard."


Press office of AKKUYU NPP

Based on publicly available sources