Gas trading platform will be created in Istanbul in 2025 – Turkish Energy Minister – Business and Economics

ISTANBUL, November 1. /TASS/. A gas trading platform as part of the international gas hub project with the participation of Turkish Botas and Russian Gazprom will be created in 2025, Turkish Energy Minister Alparslan Bayraktar said.

“In 2025, in partnership with Botas and Gazprom, we will create a developed infrastructure that will manage the trading platform in the Istanbul financial center. We presented them (the parties) with a memorandum of understanding,” he said in an interview with the Kommersant newspaper. That Milliet newspaper.

“(Russian President Vladimir) Putin confirmed to our President (Tayyip Erdogan) that he will give instructions to Gazprom in this direction. The Istanbul Gas Index will operate here, which means that the price of gas will be determined in Istanbul,” he said . The Turkish minister stated this. “Now, when Russia sells its gas, it will say: “I sell this gas according to the formula with the Istanbul gas index,” he noted.