They focused on prospects for implementing the initiative to create a major gas hub in Turkiye. The President of Russia voiced this initiative in October, and Recep Tayyip Erdogan supported it.

Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.

Benchmark gas futures settled 9.2% higher, following an increase of 16% on Monday. Freeport LNG in Texas will likely extend an outage that began in June, increasing global competition for much-needed supplies right before the winter.

The Netherlands, Poland, Spain, France and Italy have been the top five destinations for Saudi oil in the region this year, all of which have also been regular buyers of Russian crude.

Risks over existing gas supplies from Russia will continue through the coming months, with just one pipeline route open to the biggest European customers.

Currently, the most expensive form of generation -- gas -- sets the price for all electricity that’s sold into the market. That means consumers are bearing the brunt of Russia’s supply cuts to the continent. It also means Europe isn’t feeling much of the benefit of low-cost renewables like wind farms, which get to sell at big margins.

Additional domestic gas production from a bigger reserve base in the Black Sea may allow Turkey to reverse some of the recent electricity and gas price hikes.

"The Krško nuclear power plant is synonymous with a stable, reliable and safe nuclear power plant. If there were more such power plants in Europe, the energy situation at the European level would be significantly better."

Dutch front-month gas, Europe’s benchmark, traded 2.4% higher at €119 per megawatt-hour by 8:43 a.m. in Amsterdam after losing 5.8% a day earlier.

“Türkiye, due to its geographical position, is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be shipped more safely,”

Europe’s gas storage sites are nearly 95% full, providing a buffer for when the weather turns colder. Reserves in the biggest gas consumer, Germany, have risen to 99%, according to Gas Infrastructure Europe.

In July last year, Westinghouse announced the launch of front-end engineering and design work - based on AP1000 technology - under a grant from the US Trade and Development Agency to progress the nuclear energy programme in Poland.

Poland's Minister of State Assets and Deputy Prime Minister Jacek Sasin and South Korea's Minister of Trade, Industry and Energy Lee Chang-yang also signed a memorandum of understanding "to support the nuclear energy project in Patnow and tighten cooperation in the scope of necessary information exchange".

Romania has ongoing programmes to upgrade its existing Candu reactors at Cernavoda NPP, as well as to construct two new units and to develop small modular reactors (SMRs).

The recent fall in European gas prices may not last, according to Italian energy major Eni SpA. “It’s a temporary situation,” Chief Executive Officer Claudio Descalzi said in Abu Dhabi. “We have problems in 2023 because in 2023 we don’t have Russian gas.”