On November 25, Russia’s Deputy Prime Minister Alexander Novak said Moscow was expecting to reach an agreement with Ankara on the establishment of a natural gas hub in Turkey. “I am sure that agreements on the practical implementation of this project will be reached in the near future,” Reuters quoted Novak as saying in an interview with Russian TV channel Rossiya 24 and following a delegation-level meeting between the two countries.
While we believe that Turkey now is in a better position to develop the proposed gas hub, issues related to the infrastructure and pricing system will require time to be fully established.
In October 2022, Russian President Vladimir Putin proposed the establishment of a gas hub in Turkey as he predicted that many European consumers would be willing to sign long-term contracts.
The main aim of Putin’s proposal was to replace the significant drop in Russian gas shipments to the EU. The proposal, however, has suffered delays due to Turkey’s devastating earthquake and presidential elections earlier this year.
The plan was also hampered by disagreements between Russia and Turkey over the control of the proposed hub as Europe began searching for alternatives to Russian supplies.
Source: Anas Alhajji
Additional reading on this topic:
Turkey’s quest to become a regional energy hub
Turkey’s dream of a natural gas hub
