EL7.AI
CommoditiesMedium•6 November 2026•
1 min read

Turkey Threatens to Cut Russian Gas Imports Over High Prices

Key Facts

1Turkish Energy Minister Alparslan Bayraktar stated the country will reduce Russian gas purchases if Moscow does not provide a price discount.
2The Turkish minister described Russian gas as extremely expensive, noting that Ankara will seek more profitable offers.
3Reports indicate Gazprom has lost interest in the proposed Turkish gas hub and is no longer discussing it internally.

Turkish Energy Minister Alparslan Bayraktar stated the country will reduce Russian gas purchases if Moscow does not provide a price discount. EADaily reported that the minister described Russian gas as extremely expensive, noting that Ankara will seek more profitable offers from alternative suppliers.

This pressure coincides with reports from Bloomberg indicating that Gazprom has lost interest in the proposed Turkish gas hub project and is no longer discussing it internally. Turkey's economy remains under pressure, with the annual inflation rate reaching 29.77% on November 3, 2026, while the trade balance showed a deficit of $6.7 billion on the same date.

Turkey's annual Industrial Production data is scheduled for release on November 10, 2026, with forecasts suggesting a 0.3% contraction following a previous decline of 1.9%.