Russian gas giant Gazprom said on Friday it had sent its Turkish partners the concept of the prospective bilateral gas project initiated by the governments of the two countries and envisioning the creation of a regional hub in Turkey
MOSCOW (Pakistan Point News / Sputnik - 09th June, 2023) Russian gas giant Gazprom said on Friday it had sent its Turkish partners the concept of the prospective bilateral gas project initiated by the governments of the two countries and envisioning the creation of a regional hub in Turkey.
"Since October 2022, Gazprom and its Turkish partners have been considering the creation of a gas hub in Turkey. The Russian side has provided its concept of the gas hub, its parameters and principles of operation," the company said in a corporate report.
In October 2022, the presidents of Turkey and Russia instructed their relevant authorities to map out the possibility of creating a gas hub in Turkey where traffic could be diverted from the damaged Nord Stream pipelines. According to Russian Deputy Prime Minister Alexander Novak, the idea is not only to create a trading platform in Turkey but also to develop infrastructure and increase the volume of supplies to Europe. He said other countries can also join in as suppliers, including Algeria, Qatar and Azerbaijan.
In early April, then-Turkish Energy Minister Fatih Donmez said Ankara had initiated the process of introducing legislative amendments for the gas hub project, adding that the changes were expected to be approved by Turkish President Recep Tayyip Erdogan. He then said that a number of European countries, including Hungary and Serbia, were interested in buying gas through the hub. Gas sales-purchase operations through the gas hub are planned to start in 2024, according to the minister.
