Under the terms of a contract signed between the Turkish state company BOTAŞ and the Hungarian company MVM CEEnergy in August last year, the EU member country will receive up to 275 million cubic meters of natural gas during in the coming weeks alone, which is more than all Hungarian households consume. heating and cooking during the average month.
Speaking at an energy conference in Russia’s Black Sea city of Sochi last week, Budapest’s top diplomat hailed the project’s launch as a “historic day” that would strengthen ties with Ankara .
For Turkey, the deal also represents a chance to become a “gas hub” for all of Europe – an ambition that Turkish President Recep Tayyip Erdoğan has trumpeted in the face of soaring inflation and growing public discontent. While Turkey currently supplies Bulgaria with up to 1.85 billion cubic meters of gas per year, the agreement with Budapest is the first time Turkey has exported gas beyond its direct neighbors.
Yet some fear that the gas Turkey ships to Europe actually comes from Russia, just as EU countries are working to end their dependence on Moscow. Turkey itself relies largely on imports and, although a member of the NATO military alliance, Ankara has refused to impose Western sanctions on Moscow and has pledged to increase its energy trade with the Russia.
“Turkey could not have such cheap gas prices if it came from anywhere other than Russia,” said Aura Sabadus, an associate member of the Royal United Services Institute and an analyst with commodities experts ICIS.
Hungary is also one of the cheapest gas markets in Europe due to its purchases of discounted Russian gas.
Politices
