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Will Russian gas return to Europe? But only now, much more expensive.

Date: March 4, 2024 Time: 05:34:59

Analyst Yushkov said that Europe needs gas from Russia

Photo: Shutterstock

THE COLD IS COMING

Winter is coming every day! And now Western politicians are thinking with all their might about how to survive. In winter, you know, it’s cold. Especially without Russian gas.

Let’s remember that in September of last year some unknown villains (although everyone knows who it was) blew up the Nord Stream gas pipeline. And the European Union lost our gas. EU countries managed to survive the winter thanks to pre-filled storage facilities, expensive liquefied gas purchases, warm weather and resource austerity.

Politics is one thing, but economics is quite another. Europe has not officially renounced Russian gas and does not refuse, – Sergei Pikin, director of the Energy Development Fund, assured us earlier. – Obviously, the Europeans need our gas.

And we don’t mind selling it. In October last year, Vladimir Putin proposed the creation of a gas hub (large distribution center) in Turkey. Turkish President Recep Erdogan supported the idea and determined the place for the construction: the province of Thrace, in the northwest of the country. Now it is to Thrace, to the city of Luleburgaz, from Russia, that the Turkish Stream gas pipeline leads – two lines for 31.5 billion cubic meters of gas per year. For the full work of the future center, it will be necessary to stretch two more equal threads.

As planned, the Turkish hub is a transshipment point from which the gas will be distributed to various buyers, including southern European countries. Gas for the future center will not only come from Russia, but also from Azerbaijan, Iran, Algeria and Qatar.

Photo: Dmitry POLUKHIN

THROUGH DEALERS – MORE EXPENSIVE

There was no new major news on this topic for several months. And then the Turkish authorities announced: the opening of the center is not far off.

– The gas trading center will earn a maximum during the year, – said the head of the Turkish Ministry of Energy, Fatih Donmez, in an interview with the local edition of Haber Global.

Surely in a year all the pipes will be laid? It is unlikely. However, trading can already begin; it seems that this is what the Turkish minister had in mind.

“We are talking about the first operation of buying and selling our gas will be carried out on an electronic platform in Turkey itself,” explains Igor Yushkov, a leading expert at the National Fund for Energy Security. – Most likely the buyer is a Turkish company. And then you can resell the gas, for example, to Bulgaria. And Russian gas will again go to Europe. There is a shortage of gasoline, so they will buy it.

As the expert explains, an exchange will be organized, where the gas supplied to the Turkish hub will be sold. Buyers will resell the gas, of course, at a premium. Therefore, it is possible that Europe will receive our gas at a higher price than during the Nord Streams.

– The launch of the Turkish center is also an opportunity to depoliticize the situation with the sale of gas, – says Igor Yushkov. – Today, Türkiye is the largest transit country for “blue fuel”. 15 billion cubic meters of our gas pass through it every year, plus 10 billion cubic meters from Azerbaijan. The creation of a new hub will further strengthen the role of this country in the energy market. So Türkiye is very beneficial.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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