Turkey in talks with Russia to delay gas payment - Minister

Turkey in talks with Russia to delay gas payment - Minister
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Turkish Energy Minister Fatih Donmez admitted earlier reports saying Turkey has been negotiating with Russia to postpone its gas payment until 2024

Turkey continues negotiations with Russia on the deferred payment for natural gas, Turkey’s Energy Minister Fatih Donmez said on Friday.

"Negotiations with Russia on many issues are in progress. We are negotiating in a way that will be beneficial to us. We are talking about the deferral of payment, and many other issues. At the moment, we have not had a negative experience with Russia," he said in a televised interview with Turkey’s Haberturk TV.

Donmez noted that "at the moment the most important issue for all countries is the security of supply."

Earlier reports said that Turkish oil and gas company Botas asked Russia to defer some payments for Russian gas until 2024.

Turkey’s heavy reliance on imported energy has added to pressure on its currency and budget. The Turkish lira has depreciated more than 28% against the dollar in 2022.

Donmez also said that the infrastructure for creating a gas hub in Turkey and a trading platform for Europe was ready. Donmez added he is convinced that Russia, Azerbaijan, and Iran will be able to become players on the gas trading platform for Europe being created in the country. He added that Turkey will also become a player on this market - a fee will be charged for servicing transactions at the gas hub. The price of gas will be adjusted in accordance with the price in the markets of Western Europe, he said.

Turkey and Russia are also discussing constructing a second nuclear power plant in the country in the Black Sea province of Sinop, Donmez said.