Gazprom: Gas hub to be established in Turkey will provide transparent and fair prices on the market

In his statement on Gazprom’s activities for 2022, Miller, president of the Russian energy company Gazprom, noted that the company will produce 412.6 billion cubic meters of natural gas this year.

Stating that the company will export 100.9 billion cubic meters of natural gas to countries outside the Commonwealth of Independent States (CIS), Miller said global demand for natural gas has decreased by 65 billion cubic meters as of this year.

Noting that the aforementioned drop was mainly experienced in 27 European countries with 55 billion cubic meters, Miller said: “I would like to point out that 2022 is a very difficult year. There have been total changes in the energy markets.” he said he.

TARGET OF SHIPPING 100 BILLION CUB METERS PER YEAR TO CHINA

Miller stated that the global natural gas market will continue to develop rapidly and gas consumption will increase by 20 percent in the next 20 years. he used the phrase.

Noting that the TurkStream and Blue Stream natural gas pipelines continue to operate reliably, Miller said:

“Now, together with Turkey, we have started working on a natural gas hub project in this country. The decision was made by the leaders of the two states and we have already started its practical implementation. The natural gas hub will guarantee transparent and fair prices in the gas market.”

Emphasizing that they will send 48 billion cubic meters of natural gas per year to China in the near future, Miller noted that they plan to reach 100 billion cubic meters of natural gas when the volume planned to send through Mongolia is added. (AA)