What will Turkey do if Russia turns off gas?
The risk of Russia cutting gas supplies to Europe amid the Ukraine crisis has exposed Turkey’s energy vulnerability, with Istanbul, its most populous city and main industrial hub, dependent on Russian gas.
As the European Union toughens sanctions on Russia over the Ukraine crisis, uneasiness is growing over the possibility of Russia retaliating by cutting natural gas supplies.
With winter approaching, European countries reliant on Russian gas have been taking precautions against the “freezing scenario.” Stress tests have been used to predict the effects of gas cuts of durations of one, three, six and nine months. According to a study by Cologne University’s Institute of Energy Economics, Turkey, Finland and Poland would be hurt the most if Russia turns off the gas taps. If such a cut lasts six months, Germany, too, would be negatively affected. In the case of a nine-month cut, all European countries except Norway, the Netherlands and Britain would be affected.
