ANKARA, October 26. /TASS/. The capacity of the TurkStream gas pipeline by itself will not be sufficient for meeting Europe’s needs for energy in the event that demand exists for Russian gas there, a source in Ankara’s business circles told TASS on Wednesday, adding that it would require either the construction of an additional line through the Black Sea, which would take time, or the creation of a separate line of the TANAP gas pipeline running to the proposed hub in Turkey.

"In case Europe shows interest in the idea of the creation of a gas distribution hub in Turkey, which mainly Ankara will have to figure out, it will face two more problems: to expand the capacity of the existing TurkStream gas pipeline and to find the funds necessary to do that. In the difficult financial situation in which Turkey finds itself in now, it will not be easy to find sources of financing. The negotiating process between the delegations of Turkey and Russia will clarify who will fund the project," he said.

Minister of Energy and Natural Resources of Turkey Fatih Donmez said on Tuesday that the republic planned to complete the development of the roadmap for the international gas hub by the end of the year, adding that there were no exact dates planned for the talks with Russia on the gas hub’s creation.

Speaking at the Russian Energy Week forum last week, Russian President Vladimir Putin proposed creating the largest gas hub in Europe in Turkey and redirecting the volume of gas, the transit of which is no longer possible through the Nord Stream, to this hub. It may imply building another gas pipeline system and creating a hub in Turkey, through which gas will be supplied to third countries, primarily European ones, if they are interested, he said. The issue was discussed at the talks between the Russian and Turkish presidents on October 13 in Astana.