Turkey has moved closer to implementing an international gas hub project in its territory, Turkish Energy Minister Alparslan Bayraktar said over the weekend in an interview with A Haber TV channel.
"We are very close to the goal of creating a gas hub. We have taken serious steps in this direction. We are ready for infrastructure," he said.
In October 2022, Russian President Vladimir Putin proposed the establishment of an international gas hub in Turkey to transit Russian gas, which is delivered via the Nord Stream pipeline. Turkey said that almost everything is ready to start the project in terms of infrastructure.
Russian Deputy Prime Minister Alexander Novak informed at the end of December 2023 that the project to build a gas center in Turkey could begin implementation in 2024.
According to Reuters, Russia sees the gas hub in Turkey as a way to redirect its gas exports after losing the European market. Russia hopes to sell some of its gas via Turkey to countries that do not want to buy directly from Russia.
Currently, Russia supplies gas to Turkey via the Blue Stream and TurkStream gas pipelines passing through the Black Sea. Russian gas via TurkStream is also exported to Southern Europe and Eastern Europe, including Hungary, Greece, Bosnia and Herzegovina, Romania and Serbia.
Turkey is a NATO member but has good relations with Russia. Turkey currently imports almost all of its gas consumption and has a large infrastructure for importing liquefied natural gas (LNG). Turkey believes it can take advantage of existing and upcoming trade relations to become an international gas hub.
