Turkish Energy and Natural Resources Minister Fatih Denmez said that Russia and Turkey have reached an agreement in principle to create a gas hub; Ankara has begun to do its part of the work.

"First we will look at our part of the work. We have started it. Friends work in Botas, Epias (Turkish energy companies). We have always had the goal of becoming a gas center and a trade center. Basically, an agreement has been reached regarding negotiations. First we need to finish the work on our side," the official explained.

In October, Vladimir Putin proposed creating a gas hub in Turkey. According to him, this could replace the lost volume of pumping through the Nord Stream. As the head of state stressed, such a solution is economically feasible, while the level of security is much higher.