Turkey will hold its market mechanisms intact and will not impose controls on the gas distribution hub being set up in Istanbul, according to Fatih Dönmez, the Minister of Energy and Natural Resources. This stance was conveyed as work on a new platform progresses, aimed at facilitating natural gas trading through a transparent and orderly mechanism that aligns with global practices. The minister stressed that the plan centers on keeping the buyer-seller relationship free from restrictive interventions, ensuring smooth transactions within the emerging market framework. (TASS)
In explaining how the center will function amid ongoing sanctions concerns, Dönmez stated that Turkey will not take steps to restrict or complicate dealings between buyers and sellers. The emphasis is on maintaining free-market exchange, with price formation and contract execution guided by competitive forces rather than state-imposed limits. This approach is designed to preserve continuity in gas trades while Turkey evaluates its strategic energy options. (TASS)
During his remarks, the minister highlighted that long-term gas supply contracts involve both Turkish and Russian participants and will reflect world price benchmarks. He noted that Turkey is not pursuing alternative sourcing in response to sanctions, arguing that a diversified supply route is unnecessary at this moment given the existing bilateral framework and broader energy objectives. The focus remains on predictable pricing signals and stable contractual relationships within the evolving hub structure. (TASS)
Earlier statements from Alexei Miller, who previously led Gazprom, underscored that Russia and Turkey have begun practical steps toward the gas distribution center. According to Miller, the project aims to deliver pricing that is both transparent and fair, benefiting market participants by reducing information asymmetry and encouraging efficient trading practices. The collaboration envisions a hub that supports clear price discovery and reliable settlement procedures, reinforcing Turkey’s role in regional gas markets. (TASS)