Gazprom’s exit from Turkey is a sign of the times

A bne IntelliNews piece delves into the apparent decision by Gazprom to pull out of the domestic Turkish gas market, thus abandoning its plan to become a big player in gas imports and trading in Turkey. Gazprom is selling its 40% stake in the Turkish gas company Promak and its 71% stake in Bosphorus Gaz and choosing instead to focus on direct sales to Turkey. Several reasons are considered to be factors in the decision, with a big one being political instability. Since last year’s coup attempt, the Turkish government has been seizing control of private companies, and with Erdogan still trying to consolidate his power, foreign investors are worried.

 

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