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4 June | Gas

Gazprom shelves Turkish gas distribution hub plans — Bloomberg

Natural gas
Gazprom shelves Turkish gas distribution hub plans — Bloomberg

Bloomberg reports that Russia's Gazprom has abandoned plans to create a gas distribution hub in Turkey. Despite public support from President Vladimir Putin, the project faced serious obstacles from the outset. Key issues included Turkey's limited export pipeline capacity to southern Europe and Ankara's insistence on controlling gas sales independently.

After months of studying the initiative, Gazprom concluded the plan was not viable and halted work on the project. The proposal would have required constructing costly new pipelines. The original vision was for a hub with a capacity comparable to Nord Stream, approximately 55 billion cubic meters per year, Bloomberg reports.

Elizaveta Kuzmicheva MarketCheese

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