Russia hopes to finalize all necessary licenses and permits for Akkuyu, Turkey’s first nuclear plant, by the end of the year, Russian Energy Minister Alexander Novak has said.

Contracting parties are working to obtain the last of the licenses for Akkuyu, Novak told state-run Anadolu Agency over the Aug. 19-20 weekend.

Russia’s Rosatom and Turkish consortium Cengiz-Kolin-Kalyon signed an agreement in June for the construction of the plant.

“We will start construction at the beginning of 2018 and once the first unit is completed, we plan to start operations at the plant in 2023,” he said.

When fully operational, the plant is estimated to meet around 6 to 7 percent of Turkey’s electricity demand.

The nuclear plant will have a capacity of 4,800 megawatts in four units and a working lifetime of 8,000 hours per year.

In the first phase of the construction, two units with a capacity of 2,400 megawatts are planned.

The plant’s 49 percent stake will be divided among the Turkish consortium of three while the remaining 51 percent of Akkuyu’s shares will remain with Rosatom.

US sanctions

Novak also addressed the latest U.S. sanctions against Russia, which President Donald Trump signed into law on Aug. 2. In addition, new measures and six orders that were previously signed by former President Barack Obama have been enforced.

“I think the U.S. has put new sanctions against Russia to gain advantage of the European natural gas market,” Novak said.

The sanctions are being implemented so that U.S. producers and U.S. natural gas can compete more easily in Europe against Russia, he noted.

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