MNI China Daily Summary: Monday, July 29

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Gazprom Tout Turkish Gas Hub

NATURAL GAS

Gazprom CEO, Alexei Miller said earlier today that the company was ready to set up a trading hub on the EU-Turkish border.

  • It came in response to what the company could do with gas flows no longer heading via the Nord Stream 1 pipeline to Europe.
  • "The TurkStream pipeline passes through only two economic zones - Russia and Turkey, and the depth there is not like in the Baltic. TurkStream has established itself as a reliable supply channel to both Turkey and Europe. We could look at a trading hub on the border between the European Union and Turkey," Miller said.
  • Meanwhile, Fatih Donmez, the Turkish energy minister, said "this is the first we have heard of this proposal, it is too soon to say." "We need to discuss some legal, trade and economic issues, technical aspects. You know that we are reliable partners and have implemented many projects. I think the president's proposal should be discussed, and this is possible,"
Energy BulletsCommodities
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