Russia is going to build new gas and oil pipelines running across Turkey and to Southern Europe, Russian President Vladimir Putin said on Monday.

President Putin made the remarks after his talks with visiting Turkish Prime Minister Recep Tayyip Erdogan in Sochi.

"We think we may build new gas and oil pipelines in different directions," Putin was quoted by the Interfax news agency as saying.

"We are ready to build large underground gas storage facilities in Turkey, take part in the privatization of Turkish gas grids and build new pipelines for shipping our gas to third countries, including Southern Europe," he said.

Russia "will strictly comply with the agreements on natural gas deliveries to Turkey, in particularly, through the Black Sea pipeline," Putin said.

In Putin's view, Russia and Turkey will not just increase oil and gas deliveries, but will also develop cooperation. "a number of other energy projects are on the bilateral agenda," he said.

"Russia is also ready to develop electric power cooperation with Turkey and third countries, including Iraq," Putin said.

Erdogan, for his part, said that the Blue Stream gas pipeline across the Black Sea has a great potential. The capacity of the pipeline is 16 billion cubic meters of gas per year. But currently, Turkey gets no more than 4.7 billions cubic meters of gas, according to him.

The Turkish prime minister hopes the deliveries of the gas "can be increased substantially", saying it is a key goal of Turkey "to extend the gas pipeline to Ankara and southern Ceyhan".

It was the second day that the Russian and Turkish leaders held talks in Sochi, Russia's southern sanitaria city.

Source: Xinhua