Turkish Gas Hub: Opportunities for Europe and Turkey

The article examines the factors that have an impact on the implementation of the international gas hub project in Turkey. Upon successful completion of construction, the Turkish hub will become an alternative pricing center in South-Eastern Europe. It will allow to diversify gas imports to the European Union and stabilise supplies. In addition to obtaining a new supply route, the EU will be able to return to the purchase of Russian gas, bypassing its own sanctions. Due to the hub, a “Turkish gas mix” will be formed, which makes it possible for Europe to purchase it without political risks. The objectives of the study include determining the conditions that are necessary for this project. First, there must be a multitude of gas sources. Turkey needs to increase its own productions and to ensure stable supplies through existing and potential pipelines from Iran, Azerbaijan and Turkmenistan. Besides these routes, Turkey needs LNG terminals that will diversify export routes. Such a variety of different sources of imports makes it possible to avoid the dominance of one supplier and create competitive conditions, which are necessary for the formation of a gas hub. The aim of the research is to assess the possibility of creating a Turkish gas hub. The article can be used for a deeper study of factors influencing this project, as well as, for reassessing the possibility of its implementation in case of new circumstances.