Russian President Vladimir Putin signaled on Monday that in the near future, Moscow and Ankara will complete negotiations on the creation of a gas hub in Turkiye to make the energy situation in the region more balanced. How are the gas hub talks going?
Russo-Turkish energy cooperation is proceeding, as Russian President Vladimir Putin outlined on September 4. Turkiye buys around 45% of its natural gas from Russia per annum via the Blue Stream and TurkStream pipelines across the Black Sea, and is continuing to implement the Akkuyu Nuclear Power Plant project together with Moscow. Meanwhile, one project that has caught the world's attention is the Russo-Turkish gas hub, which, theoretically, may revive the fuel's flow to the EU.
What is the Russo-Turkish Gas Hub?
In the wake of the sabotage attack that destroyed Russia's Nord Stream infrastructure delivering the nation's natural gas to the EU, President Putin came up with an initiative on October 12, 2022 to redirect the supplies intended for the damaged pipelines to Turkiye and provide the fuel to Europe via a new route, "if our partners are interested in this." The Russian president talked about potentially building additional Black Sea links toward Turkiye.
Ankara welcomed the proposal, with Turkish President Recep Tayyip Erdogan ordering on October 14, 2022 his government to promptly start work on the gas hub plan. Turkiye has the capacity to become a major international energy hub, the Turkish leadership told the media later in the month.....More Below
