Russia and Turkey Begin Practical Implementation of Gas Hub in the Black Sea

Russia and Turkey have embarked on the practical implementation of a project to create a gas hub in Turkey, announced Gazprom's CEO Alexey Miller during a pre-New Year conference.

"Now, together with Turkey, we have started working on the project of the gas hub in this country. This decision has been made at the level of the leaders of both countries, and we have already commenced its practical implementation," said the head of Gazprom.

In his opinion, the gas hub will ensure "transparent and fair pricing" in the fuel market and accelerate the pace of development of supplies.

"According to long-term forecasts, consumption will grow by 20 percent over the next 20 years. Therefore, we are, of course, thinking about the future, considering our new projects, and thinking about energy security," Miller added.