Turkey's ruling party presents gas reform in step towards trading hub

FILE PHOTO: Supporters of Turkish President Tayyip Erdogan cheer during a ceremony to mark an increase in capacity at a natural gas storage facility in Silivri near Istanbul, Turkey, December 16, 2022. REUTERS/Umit Bektas/File Photo

ANKARA (Reuters) - Turkey's ruling AK Party presented a draft law to parliament on Wednesday aimed at establishing a competitive natural gas market as the country attempts to become a gas trading hub bringing together suppliers and consumers.

President Vladimir Putin proposed setting up a gas hub in Turkey in October after explosions that damaged Russia's Nord Stream gas pipelines under the Baltic Sea.