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Erdogan Reiterates Intention of Turkish Gas Hub

NATURAL GAS

Turkey’s Erdogan has confirmed his intentions today for his country to create a gas hub to redirect Russian gas flows to other markets – a plan which has gathered pace since the Nord Stream pipelines were sabotaged.

  • "While many countries, including in Europe, are preparing to limit energy use with the coming of winter, we don’t worry about that. Turkey is becoming a gas hub, an energy hub. Energy exports to Europe will be carried out through our territory. Let everyone who criticizes us for a balanced policy during the crisis between Russia and Ukraine take an example from us," Erdogan said.
  • Putin and Erdogan keep reiterating their intention that a Turkish gas hub is a serious ambition, and they believe it can be developed in the short-term.
  • Eni’s CEO cast his doubts on the plans this week stating he had concerns over who would pay to develop the infrastructure to get the gas into Europe. Appetite is low to do so after the Nord Stream sabotage and with the potential for Europe to sanction Russian gas in the future.
Energy BulletsCommodities
Energy BulletsCommodities

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