Following the suspension of Russian gas shipments via Ukraine to Europe, Turkey has emerged as a key destination for gas supplies. Experts suggest that Turkey could become a vital hub for gas trade in the near future, with the "TurkStream" pipeline, which connects Russia to Europe through Turkish territory, becoming a crucial conduit for gas transportation.

Rising Importance of "TurkStream"

Since its launch in January 2020, the "TurkStream" project has become one of the primary routes for transporting Russian gas to Europe. The project consists of two pipelines, each with an annual transport capacity of 15.75 billion cubic meters of gas. To date, Turkey has received over 40 billion cubic meters of gas, while Europe has received more than 53 billion cubic meters via this route.

Russia Shifting More Gas to Turkey

With the halt in gas transportation via Ukraine, Turkey has become the primary remaining route for Russian gas to reach Europe. This shift has led experts to emphasize that Turkey may become a central player in regional gas trade. Tamás Plézer, an energy analyst at "Erst Investment," stated that "the Turkish market has become a key starting point for Russian gas after other routes were closed."

New Opportunities for Natural Gas in Turkey

Thanks to its strategic location, Turkey is in close proximity to major gas sources like Azerbaijan and Turkmenistan, positioning it as a strong candidate to become a regional gas trading hub. If political and security issues are resolved, Turkey could enhance its role as a link between gas producers in the Middle East, Russia, and European markets.

Turkey's Crucial Role in Europe's Gas Supply

Akira Yanagisawa, chief economist at the Japanese Institute of Energy Economics, noted that Europe relied on around 45 billion cubic meters of gas from Ukraine annually. With this supply halted, Europe will either need to increase liquefied natural gas (LNG) imports or rely more heavily on Turkey to transport Russian gas via "TurkStream."

Turkey's Expanding Gas Import Capacity

Turkey has not only focused on developing pipelines but has also strengthened its capacity to import liquefied natural gas (LNG). Through Floating Storage Regasification Units (FSRU), Turkey has signed agreements to supply around 100 billion cubic meters of LNG in 2024. These developments indicate that Turkey is on its way to becoming a major player in the global gas market.