Russian company Gazprom has quietly shelved plans to develop a new gas distribution hub in Turkey, closing the door on a potential opportunity to regain its position in European markets lost after the invasion of Ukraine, Bloomberg reports.

This idea was proposed by Russian President Putin to his Turkish counterpart Erdogan in 2022 after Russia invaded Ukraine. As a result of the Russian invasion, Russia was forced to abandon its traditional routes for supplying Russian gas to EU countries via Nord Stream and through Ukraine. 

The postponement of the project does not affect Gazprom's current activities with Turkey. However, it shows that Russia, once the largest supplier of pipeline gas to Europe, has little chance of regaining its influence in the region in the current political climate, Bloomberg commented. І BGNES