Without being specific, Russian President Vladimir Putin has said a gas hub could be set up in Turkey relatively quickly, and predicted customers in Europe would want to sign contracts.
Without being specific, Putin has said a hub could be set up in Turkey relatively quickly, and predicted customers in Europe would want to sign contracts.
He also said it would be impossible to reconfigure gas flows within the European Union, as there are no existing links that would connect to the proposed hub from northwestern Europe, which used to get gas via Nord Stream 1.Russia’s exports to Europe have fallen by 43.4% this year and the TurkStream pipeline to Turkey is running well below its 31.5 billion cubic meters of annual capacity.
A source in Russia’s pipeline gas exporting monopoly Gazprom said be believed the hub would facilitate sales. “Europe is unlikely to want to enter into direct contracts with the Russian Federation, and buying free volumes on the spot market in Turkey will be politically acceptable,” he said, while adding time and money would be needed to set up the hub.
Turkey has said it would be also possible to include Trans Anatolian Natural Gas Pipeline , which carries Azeri natural gas to the Turkish border, into the proposed hub. The deal “raised some concerns from the market” about a possible gas swap deal with Russia to export more gas to Europe, said Luo.
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