Türkiye eyes launching natural gas trading platform in Istanbul soon

The Turkish government is set to launch a natural gas trading platform in Istanbul in the near future.

According to Report, citing foreign media, this initiative was announced by Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, during the Energy and Climate Forum.

“In cooperation with Gazprom, we are working on the creation of a gas trading platform for Istanbul’s financial center, which we believe can be initiated soon,” he noted.

The proposal for a gas hub in Türkiye was introduced by Russian President Vladimir Putin in October 2022 after the North Stream pipeline incident. He suggested rerouting Russian gas to the Black Sea region and forming a platform in Türkiye for gas exports to Europe, including the determination of energy prices.