Turkish Energy Minister Fatih Donmez said in March that the gas hub project would need the parliament's approval as it entails legislative changes.
The legislation passed by parliament will pave the way for private businesses to participate in gas imports by creating new divisions and companies within Botas, the Turkisn news outlet reported. The structural changes in the state-owned company will be regulated under a separate presidential decree, the newspaper said.
The changes expanding private participation in imports will apply to natural gas only and not liquefied natural gas and pipeline natural gas at the spot market, according to the report.
In October 2022, the presidents of Turkiyi and Russia instructed their relevant authorities to map out the possibility of creating a gas hub in Turkiyi where traffic could be diverted from the damaged Nord Stream pipelines. According to Russian Deputy Prime Minister Alexander Novak, the idea is not only to create a trading platform in Turkiye but also to develop infrastructure and increase the volume of supplies to Europe. He said other countries can also join in as suppliers, including Algeria, Qatar and Azerbaijan.