The gas hub planned for development within Turkey's borders will play a pivotal role in energy supply and pricing. Turkey's President Recep Tayyip Erdogan made this announcement during a briefing with his media delegation upon returning from his talks with Russian President Vladimir Putin in Sochi on September 4.
"The energy center being established in Turkey will facilitate advancements in both energy supply and pricing. We have stated our commitment to transform our nation into an energy hub, and we are actively building the required infrastructure and physical capabilities to achieve this," Erdogan stated, as reported by TRT TV.
The proposed gas hub is intended to be established in the Thrace region, located within the European part of Turkey.
Erdogan highlighted that this center in Turkey is envisioned to encompass not only natural gas but also energy and minerals. He expressed his ambition to transform Turkey into a comprehensive hub that extends beyond Thrace, welcoming all stakeholders in natural gas, energy, and mining sectors. "We want to create a hub that can accommodate anyone involved in natural gas, energy, and mining," stated the Turkish president.
Erdogan also emphasized that Turkey and Russia are actively engaged in various projects aimed at delivering energy resources through Turkish territory to Europe and global markets. He highlighted the multifaceted discussions with President Putin, which encompass different aspects of the energy sector. The Turkish president stated their intention to execute diverse projects that facilitate the transportation of energy resources to Europe and global markets via Turkey.
Furthermore, Erdogan underlined the significance of Turkey's energy diplomacy, asserting that no energy-related initiatives in the Eastern Mediterranean can progress without Turkey's involvement. He reiterated their gradual progress towards the objective of positioning Turkey as a regional and eventually global energy hub.
Turkey's hub project
The concept of the Turkey hub project was initially proposed by President Putin in October 2022, with the aim of establishing a hub on Turkish soil to redirect the transit volume that might be lost from the Nord Stream project. Turkish authorities have stated that the country's infrastructure is largely prepared for the implementation of this hub project. However, certain legislative adjustments are required to facilitate its realization.
To address this, Turkey began making legislative changes in early April. These initial legislative modifications focused on the operations of the Turkish state-owned oil and gas company Botas, as well as several other suppliers operating within the energy sector.
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Photo: btr/Creative Commons 2.5
Based on materials from TASS