Russian dictator Vladimir Putin said on Wednesday that Russia can redirect supplies reserved for the damaged Nord Stream pipelines over to the Black Sea in creating a European gas hub in Turkey, or even still to use the intact part of Nord Stream 2 for supplying Europe.
Investigations are underway
into explosions last month
that ruptured the Russian-built Nord Stream 1 and Nord Stream 2 pipelines on the bed of the Baltic Sea.
Putin stated it was possible to repair the pipelines and that Russia and Europe should now decide their fate. He stated this at an energy conference in Moscow, and that Russia could move the lost volumes from the Nord Streams along the bottom of the Baltic Sea to the Blak Sea region effectively creating the largest gas hub for Europe in Turkey.
“That is, of course,” added Putin, “if our partners are interested in this.”
The Russian dictator’s statement however, overlooks the fact that the European Union countries are now actively trying to bring an end to their reliance on Russian oil and gas after Russia’s invasion of Ukraine.
Turkish Energy Minister Fatih Donmez, commented that the idea was new to him, and that it’s the first time they’ve heard of it, making it too early for an assessment, and therefore requiring further discussion.
Gazprom CEO Alexei Miller praised the Turkstream pipeline across Black Sea, noting it was much deeper than Nord Stream. “As for the hub, there is no doubt that we can consider the issue of a trading platform on the border of the European Union and Turkey,” Miller said.
Putin also stated that Russian gas could yet be supplied to Europe through the singular part of the Nord Stream 2 pipeline that remains still intact, however that would depend on the EU. The ball, according to Putin, is in the court of the European Union now. Adding further that Russia is nevertheless ready to supply additional volumes in the autumn-winter period.
Apart from being the world’s biggest natural gas exporter, Russia is also the second largest oil exporter after Saudi Arabia and a member of the OPEC+ producer group that last week decided to cut its output.
Putin said Russia plans to hold oil production and exports at current levels until 2025 and that Moscow would not cede its leading position in the global energy market despite the Western sanctions.
Russia seems eager to once again to leverage its rich natural resources in the form of fossil fuels to draw the European Union back into cooperation despite recent actions that brought international condamnation.
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