Tensions between Russia and Turkey continue as both countries attempt to hit each other politically and economically. However, experts believe that the more the tensions escalate, the more Turkey could stand to lose. Concerns also abound the gas industry, which is considering the role of both countries.

Turkey was expected to assist the European Union (EU) with regard Russian energy, but the ongoing tensions are turning Europe’s energy rescuer into an opponent. The plan was to have Turkey host natural gas pipelines from Azerbaijan and Central Asia to the European region. However, the declining relationship between Ankara and Moscow has prompted the former to look for other gas contracts. This will force Ankara to compete directly with the EU.

“We always looked at Turkey for our own diversification wishes, without considering that Turkey has its own priorities,” Politico quoted Simone Tagliapietra, an energy fellow at the Brussels-based Bruegel think tank.

Russia and Turkey are caught in a dangerous game of political and economic pressure following Ankara's act of shooting down Moscow's warplane. Turkey cited airspace violation, which was denied by Russia.

Moreover, Russia remains the largest supplier of gas to Turkey. Russia’s Gazprom sold a total of 27 billion cubic metres of gas to the nation. This accounts for around 60 per cent of the region's total gas needs.

“Turkey is in a very delicate situation now,” added Tagliapietra. He said that should Russia decide to cut the gas supply because of the recent events, then it would be an inevitable disaster.

The Observer agrees. According to Micah Halpern, "But Turkey relies on Russia for US$20 billion (AU$27.59) of natural gas every year. If that flow is even slightly altered, even for a single day — Turkey will grind to a halt. That natural gas engines Turkey’s electric grid." While Turkey is attempting to pressure Russia, the case at the moment speaks of a different scenario. It is reported that Russia holds the cards in this game.

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