In mid-October Russia’s President Vladimir Putin proposed to his Turkish counterpart Recep Tayyip Erdogan to create a gas hub in his country.Today 25th of October the Turkish Energy Ministry said that Ankara and Moscow had reached an agreement in principle on the gas hub, and the Turkish side had already started doing its part. Let us examine the details of the future project in more detail.
The proposal was announced after the sabotage of the Nord Streams, due to which Russia lost the opportunity to sell its energy resources to Europe. The main problem, however, is that the undelivered gas is simply burnt and the gas storage facilities are full. The situation when Russia spend money on producing gas but cannot sell it is detrimental to Russia. That is why the Russian Federation had to find buyers of their gas - those were the same European countries that were left without Russian blue fuel after the terrorist attack. Now the opportunity for the resumption of supplies has been found - it is Turkey.
Two branches of the Russian gas pipelines, the Turkish Stream and Blue Stream, have already been laid to Turkey.Russia’s gas is already delivered to Europe via Balkan Stream. The total capacity of the Russian pipelines is about 39 billion cubic meters a year, whereas they lost about 59 billion cubic meters a year to Nord Stream. This loss can only be compensated by building new infrastructure, which is what their president was talking about.
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See Readovka's infographic below to find out where the blue fuel will flow from and where it will go in the new joint project between Russia and Turkey.
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