Turkey to organize international gas conference early next year

Turkish government will lay out a roadmap by the end of this year about Russia’s proposal to form a natural gas hub in Turkey and may hold a conference for suppliers and buyers early next year, Fatih Donmez, Turkey’s Energy Minister said on Tuesday.

“We could organize an international gas conference, perhaps in January or February, to bring together gas suppliers and importer countries to take their opinion, we will proceed according to that,” Donmez said, in a televised interview with Turkey’s state TV TRT. 

Last month, Russia’s President Vladimir Putin proposed Turkey as a base for gas supplies as an alternative route after the Nord Stream pipelines under the Baltic Sea were damaged by blasts. Turkish President Tayyip Erdogan said he agreed with the idea. 

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

Donmez said Turkey was in talks with several other sources of natural gas other than Russia as it was not feasible to build a gas hub with a unique source. According to Donmez, countries from the Balkan region have already expressed willingness to buy gas from Europe. 

“The goal is to create a transparent, safe market with a win-win mentality,” Donmez said.

The minister also said that Turkey has started paying for some of its natural gas from Russia in roubles. the share of local currency payments in energy trade with Russia would increase.

Ankara and Moscow had agreed in September to start rouble payments for natural gas supplies.