Russian gas exports to Turkey are unlikely to fall despite the latter's recent discovery of underwater reserves in the Black Sea, Director General of Gazprom Export Elena Burmistrova said
MOSCOW (Pakistan Point News / Sputnik - 23rd October, 2020) Russian gas exports to Turkey are unlikely to fall despite the latter's recent discovery of underwater reserves in the Black Sea, Director General of Gazprom Export Elena Burmistrova said.
"According to forecasts of leading world agencies, a significant increase in gas consumption is expected in Turkey until 2040. This will increase the need for imports, even taking into account the prospects for the development of its own gas fields in the future," Burmistrova said, noting that the country has been and remains one of the key foreign markets for the company.
In an interview published in the company's corporate magazine, Burmistrova provided for possible changes in the export-import relations between the two sides in the long term based on a number of factors.
"The specific dynamics will depend on the pricing environment in the European energy market, economic development and the corresponding increase in consumption in the long term, as well as weather factors in the short term," the head of Gazprom Export said.
Turkish President Recep Tayyip Erdogan has made several announcements over the recent months detailing the ongoing discovery of vast natural gas reserves in its waters in the Black Sea, totaling over 400 billion cubic tonnes. Deliveries of gas are estimated to begin in 2023.