The Energy and Natural Resources Ministry announced that Turkey and Russia have agreed to obtain the necessary permits for the realization of the Turkish Stream project. The ministry's statement revealed, "Both parties expressed mutual determination to take steps to guarantee Turkey's rights arising from the contract within the framework of the arbitration process, and resolve the question that led to this process." During one-on-one and inter-delegation meetings in Istanbul, Russian and Turkish delegations addressed the issues of the Turkish Stream project, regional cooperation on energy and the arbitration process that Turkey initiated as part of its rights arising from the contract that it signed with Russia.

Energy and Natural Resources Minister Berat Albayrak welcomed Russian Gazprom CEO Alexey Miller and his entourage on Wednesday. The meeting that was held at the Dolmabahçe Prime Ministry Office, addressed the Turkish Stream project. Albayrak said, "We hope that our cooperation with Russia will be improved," adding that Turkish-Russian relations have reached a higher level since Aug. 9 than they were before the fighter jet crisis that started on Nov. 24, 2015. Stressing that Turkey and Russia will soon take more positive steps with respect to energy, Albayrak said Turkey is always looking to further improve cooperation.

The Turkish Stream project is designed to transfer Russian natural gas to Europe via the Black Sea and Turkey. Under Russian state-owned energy giant Gazprom's plans, the Turkish Stream pipeline will be split into four lines with a total capacity of 63 billion cubic meters a year. In December 2014, Russia scrapped the South Stream pipeline project that would have transported natural gas to Europe via Bulgaria and brought forward the proposed four-line and 63 billion-cubic-meter project that will bypass Ukraine and stretch to the Turkish-Greek border through the Black Sea.