Russia-Turkey Gas Trade: Decreasing Supplies and Shifting Alliances | Expert Analysis and Outlook

It should be argued here that the Russian dictator, for unknown reasons, did not mention the fact that in 2022, Russia supplied Turkey with 21.5 billion cubic meters of gas, Kommersant reports.

Until now, the anti-record was achieved in 2019, when Turkey received 15.2 billion cubic meters of gas throughout the year. It cannot be ruled out that a new anti-record will be set this year.

At Monday’s press conference between Putin and Erdogan, Putin announced that Moscow and Ankara cooperate very closely in the gas sphere, however, in the first eight months of this year, Russian gas supplies to Turkey have fallen by 39% compared to the same period last year.

It is known that Ankara has signed a contract with Gazprom until 2026. Considering this, every year Russia supplies gas to Turkey through the TurkStream (5.75 billion cubic meters of gas) and Blue Stream (16 billion cubic meters) gas pipelines.

Experts say that the main reason why Turkey has reduced Russian gas supplies is the too high price. In addition, the demand for gas has also significantly decreased in Turkey itself. It should also be noted that many countries are currently abandoning Russian natural gas, switching to LNG supplies, or are looking for opportunities to conclude contracts with Azerbaijan, which offers cheaper gas than Russia.

2023-09-05 10:41:00
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