Russia: The decision to establish a natural gas hub in Turkey can be taken in 2023
Russian Deputy Prime Minister Alexander Novak has stated that the decision to establish a natural gas hub in Turkey is expected to be taken in 2023.
In an interview with the Russian state channel Rossiya-24, Novak made assessments of developments in the global energy sector.
Russian Deputy Prime Minister Aleksandr Novak stated that works continue on the natural gas hub that is planned to be established in Turkey and that a decision can be made in 2023: “We are talking about creating a new platform that will include not only Russian suppliers, but also other exporters. We are currently actively working on this issue with our Turkish colleagues and other potential countries that can participate in the project.” he said he.
Novak added that the natural gas hub to be established in Turkey could also provide various tools for the natural gas pricing mechanism.
IT WILL ALSO CONTAIN EXPORTERS
Making assessments about the natural gas center that is planned to be established in Turkey, Novak said:
“We are talking about creating a new platform that will involve not only Russian suppliers, but also other exporters. We are currently actively working with our Turkish colleagues and other potential countries to participate in the project. Since at the moment gas to Europe is supplied from the south by Algeria, Qatar and Azerbaijan, we are talking about creating a kind of center that in principle will include not only Russian suppliers, but also other exporters. I think a decision will be made in 2023.”
Emphasizing that prices will be determined according to market conditions at the headquarters in Turkey, Novak said: “It is not clear how the price is formed in the Netherlands, England or other trading platforms. We are talking about creating a hub that will create an alternative to the platforms where the bots work and will create a price according to the market”. he said.
SUGGESTED PUTIN
Russian President Vladimir Putin has proposed establishing a natural gas hub in Turkey to deliver natural gas to Europe after Nord Stream pipelines in the Baltic Sea were damaged by the explosion in September.
President Recep Tayyip Erdoğan also announced that the two countries will carry out work and that measures will be taken immediately afterward. (AA, REUTERS)