Türkiye's gas hub project expected to see progress in coming months

Türkiye is set to make significant progress on its gas hub project within the next few months, according to Turkish Energy Minister Alparslan Bayraktar.

Speaking at the plenary session of the St. Petersburg International Gas Forum, Bayraktar highlighted the country's collaboration with other key players to advance the project, Caliber.Az reports, citing foreign media.

"We are cooperating with other players on this project, and in the coming months, we will be able to announce progress. The gas hub in Türkiye will create additional opportunities for both suppliers and consumers," Bayraktar stated.

Türkiye is strategically positioned to receive gas supplies via pipelines from various countries, as well as through LNG imports. Bayraktar emphasized that the country is also investing in domestic gas production from the Black Sea. Over the next two years, Türkiye aims to reach an annual gas production of 7.5 billion cubic meters, with plans to triple that output in the future.

Currently, Türkiye imports approximately 31 billion cubic meters of gas from Russia and about 10-11 billion cubic meters from Azerbaijan. Bayraktar also noted the country's capacity to import up to 25 billion cubic meters of LNG from Qatar, Algeria, Russia, and other producers via its regasification terminals.

"Our domestic gas consumption stands at 50 billion cubic meters, but it is increasing. Nonetheless, we have an excess supply that can be exported to other countries," Bayraktar added, underscoring Türkiye's potential to become a key gas exporter in the region.

By Khagan Isayev