Moscow/Astana: Russian President Vladimir Putin has proposed to set up a gas hub in Turkey to supply natural fuel gas to other countries, including European countries. The Russian President hinted that this proposed hub in Turkey could be important for fuel supply and determining fuel prices. Turkish President Recep Erdogan has said that Turkey has responded positively, and the systems of both countries will soon start studying the technical aspects. The proposal of a new hub becomes noteworthy with the backdrop of sanctions imposed by European countries and the fuel supply blocked by Russia.
The conference of Central Asian countries and Russia began in Kazakhstan’s capital Astana on Thursday. During this conference, Russian President Putin met Turkish President Recep Erdogan. Putin proposed a gas hub to Turkey during the visit. Putin said the proposed centralised gas hub could be an effective platform for determining fuel gas prices. He further said that Russia and Turkey could come together and build this centre, which will be essential for fuel supply and determining the prices. Currently, the fuel gas rates have increased outrageously, he added. Moreover, Putin proposed to Turkey that these rates could be regulated at a normal market level without political interference.
Currently, two fuel pipelines are operating between Russia and Turkey. It includes ‘Blue Stream’ and ‘TurkStream’. Blue Stream has been active since 2003, and this gas pipeline supplies 16 billion cubic meters of fuel gas to Turkey annually. Besides, TurkStream operational since 2020, and 31.5 billion cubic meters of fuel gas are supplied to European countries, including Turkey. In addition, discussions have been ongoing between Russia and Turkey regarding the Blue Stream 2 gas pipeline.
With this background, the proposal given by Russian President Putin proves a big blow to the European countries that support Ukraine and impose sanctions on Russia. Although the European Union has imposed large-scale sanctions on Russia, some countries, including Hungary, have been exempted from them. Therefore, the Russian fuel gas is still being supplied from these countries. Also, Hungary has signed agreements with Russia for future fuel imports.
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