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Türkiye Ramps Up Energy Hub Role After Signing Gas Deal With Romania
One of the broader implications of the war in Ukraine has been the disruption to global energy markets. After many western countries sanctioned Russian oil and gas companies, prices soared, leaving future supplies volatile. Romania, once heavily reliant on Russian energy, is moving away from that dependency as it cements its ties with the west. To help fill part of that void, the former Soviet nation has signed a natural gas deal with NATO ally Turkiye, which took affect at the start of this month.
The latest deal will see delivery of up to 4 million cubic meters of natural gas per day to Romania. The two countries will also cooperate on developing the transmission and storage of natural gas, along with green energy technologies. With Turkiye's recent Black Sea gas discoveries, Ankara has been pushing to become an energy hub to help transport Eurasian reserves to European markets. Earlier this year, Turkyie signed similar gas deals with Bulgaira and Hungary.
Guests:
Eser Ozdil
Founder of Glocal Group Consulting, Investment and Trade
Sergey Kapitonov
Analyst at Skoltech
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