News   /   Business

Russia’s Gazprom sees potential for increased gas purchases by Turkey

Russia’s Gazprom expects to see a growth in Turkey’s gas purchases by the end of this year.

Turkey could increase its purchase of natural gas from Russia by the end of this year, says Russia’s state-run gas company Gazprom, as lower prices of the oil index and the increased demand in Turkey may cause a boom in Russian exports.

Sergey Komlev, a senior Gazprom official said on Tuesday that Turkey’s economy as well as the prices in the international oil markets will continue to impact Ankara’s policies regarding gas imports.

“The price of the oil index was quite high in the first half of the year, now it has decreased, and we assume that this will lead to the fact that the volume of purchases of Russian natural gas will increase in Turkey,” Komlev was cited by Russia’s Tass news agency.

Turkey has been desperate to reduce its massive natural gas import bill in light of a recent recession seen in oil markets that has been exacerbated by the spread of the coronavirus pandemic around the world.  

That comes as Turkish authorities have touted a recent gas discovery in the Black Sea as a major step toward energy independence.

However, industrial estimates suggest the country will continue to depend on Russia, Iran and Azerbaijan for more than 130 million cubic meters of gas it needs on a daily basis.

Komlev said that that increased purchases from Turkey may not be enough to offset the impacts of lower imports from Russia in recent months.

“Perhaps it will not be able to compensate for the decline in the first half of the year," he said.


Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk

SHARE THIS ARTICLE
Press TV News Roku