July 14, 2024

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Erdogan Backs Putin Gas Pipeline Hub Proposal

Erdogan Backs Putin Gas Pipeline Hub Proposal

Russian President Vladimir Putin, right, and Turkey’s President Recep Tayyip Erdogan shake hands during their meeting on sidelines of the Conference on Interaction and Confidence Building Measures in Asia (CICA) summit, in Astana, Kazakhstan, Thursday, Oct. 13, 2022. (Vyacheslav Prokofyev, Sputnik, Kremlin Pool Photo via AP)

 

Reuters: Turkey backs Putin gas plan as Nord Stream faces long outage 

LONDON (Reuters) – Large sections of the damaged Nord Stream pipelines built to supply gas to Europe might need to be replaced, the head of Gazprom said, while Turkey on Friday backed Russian proposals to build a gas hub there as an alternative supply route. 

Russian President Vladimir Putin this week proposed Turkey as a base for gas supplies after the Nord Stream pipelines under the Baltic Sea were damaged last month by blasts. 

The European Union, which previously turned to Russia for about 40% of its gas needs, is however seeking to wean itself off Russian energy following the invasion of Ukraine in February. 

Read more ….

 

Update #1: Erdogan says Turkey and Russia to study Putin’s gas hub proposal (Al Jazeera)
 

Update #2: Erdogan Eager To Act On Putin’s Offer To Make Turkey A ‘Gas Hub’ (Zero Hedge)

 

WNU Editor: Not surprising that Erdogan is all in on it. It would mean billions in revenue to Turkey, and leverage over Europe should the EU find itself in an energy crunch.