The agreement, signed by Turkish energy minister Taner Yildiz and South Korean information economy minister Choi Kyung Hwan, is a non-binding pre-agreement which allows for the two sides to conduct detailed discussions on the technical aspects of the planned plant and relating to financial matters such as offtake guarantees and the sale price of the power to be produced, spokesman said.

"This agreement follows on from the agreement signed in March between (Turkish state power producer) EUAS and (Korean state electricity company) KEPCO, and allows for further discussions to take place," he said, explaining that Turkey is still open to proposals from other countries and other companies interested in construction of a nuclear power plant at Sinop or other sites in Turkey.

The spokesman added that the planned procedure would mirror that taken with Russia concerning the construction of a 4,800 MW plant at Akkuyu on Turkey's East Mediterranean coast, in which a series of non-binding agreements would--assuming an final agreement is reached--result in the signing by the two governments of a binding agreement to develop the plant.

No details of the planned Sinop plant have yet been announced, but in March following the signing of the agreement between EUAS and KEPCO Turkish energy minister Taner Yildiz announced that it was his government's policy to construct between 8,000-10,000 MW of nuclear power capacity.

--David O'Byrne, newsdesk@platts.com