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Erdogan/Putin Expected To Discuss Grain And Gas In Call Today

NATURAL GAS

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan will today hold their first call since Russia withdrew from the Turkey/United Nations brokered Black Sea Grain initiative on July 17.

  • Russian news service Tass reports, citing a local source: "Turkey is not giving up on its efforts to resume the Black Sea Grain Initiative and has regular communication on this issue with the UN, Russia and Ukraine."
  • Tass reports that the two leaders are also expected to set a time for an upcoming face-to-face meeting during the call. They may also discuss the creation of a gas hub in Turkey, suggested by Moscow in October last year.
  • Bloomberg: "The idea... is still on the table... to become the regional gas trade center with its own price index..."
  • Putin said at a presser on Saturday: “It’s still on the agenda. It’s about creating an electronic trading platform, we are not going to store massive volumes of gas there."
  • Bloomberg reports that if the gas hub in Turkey materializes it could carry an extra 10 billion cubic meters per year of Russian gas to Europe as soon as 2025
Energy BulletsCommodities
Energy BulletsCommodities

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