Russia to implement 30 percent hike to natural gas to Turkey - Russian daily

Moscow has plans to oversee a 30 percent price hike to is natural gas to Turkey in the upcoming winter, Dünya columnist Kerim Ülker wrote, citing Russian political and financial daily Kommersant.

Turkey has seen a surge in gas consumption in recent years, from 25 bcm in 2005 to 55.2 bcm in 2017, with Russia supplying more than half of that volume.

Russia currently sells 1000 cubic meters of natural gas to Turkey for around 205 dollars and this rate will hike up to 260 dollars in line with the surge in gas prices, Ülker wrote.

“According to Russian media, 1000 cubic meters of natural gas could increase by 55 dollars in the upcoming days,’’ Ülker said. “If these allegations come to life, then a very harsh winter awaits us.’’

President Recep Tayyip Erdoğan in May said that Ankara and Moscow reached an agreement to reduce the price of the natural gas imported from Russia by 10.25 percent following negotiations.