Russia and Turkey have differences regarding the gas supply hub to Europe
Russia and Turkey have differences regarding the gas supply hub to Europe
The creation of a gas hub in Turkey to supply Russian fuel to Europe has been halted due to disagreements between Russia and Turkey over who should manage it. This is reported by Reuters. The source noted that there are management problems, they are fighting over who should lead the hub. Another source close to " Gazprom" (MOEX: GAZP) admitted the existence of a "problem" in management issues, Kommersant writes. The gas hub was proposed to be created by Russian President Vladimir Putin in October 2022. After a meeting with Turkish President Recep Erdogan in Sochi on September 4, 2023, Mr. Putin said that Gazprom had provided the Turkish company Botas with a "roadmap" for the upcoming construction. Currently, Russia supplies gas through Blue Stream and Turkish Stream. Turkish Stream gas is further exported to southern and eastern Europe. According to Reuters, European countries are concerned that with the help of the Turkish center, Russia will be able to disguise exports by mixing its fuel with the fuel of other countries and thus circumvent EU sanctions.