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Turkey working on infrastructure of Istanbul gas hub — Energy Ministry

Earlier, Bayraktar announced plans to open a gas trading center in Istanbul in 2025 with the participation of the Turkish company Botas and Russia's Gazprom as part of the international gas hub project

ISTANBUL, December 27. /TASS/. The Turkish authorities are working on the infrastructure of an international gas hub in Istanbul, the country's Minister of Energy and Natural Resources Alparslan Bayraktar.

"Work on the project to create a gas hub in Istanbul is underway. We are currently working on its infrastructure," the business newspaper Ekonomim quotes the minister as saying.

Bayraktar also announced the planned transfer of the energy exchange (EPIAS) to the financial center of Istanbul in April-May 2025 and the creation of an international commodity exchange for the sale of carbon units on its basis following the adoption of the climate law by the Turkish parliament.

Earlier, Bayraktar announced plans to open a gas trading center in Istanbul in 2025 with the participation of the Turkish company Botas and Russia's Gazprom as part of the international gas hub project.

In October 2022, 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. The Turkish side noted that almost everything is ready in terms of infrastructure for the implementation of the hub project, but it is necessary to amend the legislation.

In December 2023, Russian Deputy Prime Minister Alexander Novak said that the implementation of the hub project could begin in 2024.