Russian President Vladimir Putin on Monday said a natural gas hub could be set up in Türkiye quite easily and predicted that many countries in Europe would want to make deals for supplies.

Putin made his remarks at a news conference in Sochi.

Earlier this month, President Recep Tayyip Erdoğan said he had agreed with Putin to create a natural gas hub in Türkiye.

Putin has floated the idea of exporting more gas via the TurkStream gas pipeline running beneath the Black Sea to Türkiye, touting the country as the best route for redirecting gas supplies to the European Union after the Nord Stream pipeline leaks.

Erdoğan previously said Russian and Turkish energy authorities would work together to designate the best location for the potential gas distribution center, adding that Türkiye’s Thrace region, bordering Greece and Bulgaria, appeared to be the best spot.

Carrying natural gas from Russia to Türkiye and further into Europe, the TurkStream was formally launched in January 2020.

The pipeline, which allows Moscow to bypass Ukraine as a transit route to Europe, carries Russian gas to Southern Europe through the Black Sea and Türkiye.

It has an annual capacity of 31.5 billion cubic meters (bcm) and consists of two 930-kilometer (577-mile) offshore lines and two separate onshore lines that are 142 and 70 kilometers long.

The first line with a capacity of 15.75 bcm is designated for supplies to Türkiye’s domestic customers. The downlink to Türkiye carries gas to several European countries, including Serbia and Hungary.