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TURKEY: Putin And Erdogan To Discuss Regional Gas Hub

RUSSIA

Wires reporting comments from the Kremlin stating that Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan will discuss plans to create a regional gas during an upcoming trip to Turkey, expected to take place on February 12.

  • Russia initially proposed the creation of a gas hub in 2022 to reroute Russian gas into Europe in the wake of US-led sanctions. Discussions have since remained on the backburner as focus shifted to the recovery from devastating earthquakes and the Turkish elections in May last year.
  • According to Reuters, Turkish Energy Minister Alparslan Bayraktar told reporters in November 2023 that Gas coming from Azerbaijan, Iran and Russia through pipelines could also feed into this hub and be priced in a local gas exchange.
  • MNI's Political Risk team noted last week that, following Turkey's ratification of Sweden's accession to NATO, US officials have signaled that Turkey may be readmitted into some key defence ecosystems which have been closed to Turkey since 2017.
  • The fact that the Kremlin is again floating the idea of a gas hub might suggest that Putin is concerned of Turkey's realignment with the West and a subsequent loss of influence in the Black Sea.
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