Germany to give Turkey €1bn to cut off Russian gas – The Moscow Times

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Not only the European Union is trying to get rid of Russian gas. Turkey and Deutsche Bank are ready to sign a loan agreement for 1 billion euros for the purchase of LNG from the US and European traders. Negotiations are at the final stage, Bloomberg writes, citing people directly familiar with the situation.

The first loan for LNG imports, it will allow state-owned Botas to diversify supplies and reduce Turkey’s dependence on pipeline gas from Russia, which supplies more than half of its needs. At current LNG prices, Botas will be able to purchase about 1 bcm. m (total consumption in the country in 2021 – more than 61 billion cubic meters). The size of the loan guaranteed by the Turkish Ministry of Finance can be doubled.

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