Russia, Turkey On the Verge of Agreement on Turkiye Gas Hub

SEATTLE (Oil Monster): The talks between Russia and Turkey on establishing a gas hub in the Thrace region of Turkiye are in final stages. This will reinforce Turkiye’s position as a pivotal gas supplier to European countries.

The proposal to set up a gas hub was put forward by Russian President Vladimir Putin last year. The discussion about the project was held between Russian Deputy Prime Minister Alexander Novak and his Turkish counterpart Alparslan Bayraktar. After the meeting, Bayraktar expressed confidence in reaching an agreement on the creation of hub in the near future. It must be noted that discussions had stalled over the past few months following earthquakes and elections in the country.

According to media report, the search for identifying a suitable land in Thrace to set up the gas hub is in progress. The proposed gas hub, to be set up jointly by Russia’s Gazprom and Turkiye’s BOTAS is expected to become operational next year. The hub would be capable of storing gas originating from Azerbaijan, Iran and Russia.

Turkiye plans to expand its gas infrastructure, by establishing a gas exchange in the region so as to help southeast European countries to source gas. Also, it plans to connect LNG gasification terminals in Thrace region to the upgraded Silivri storage facility.

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