Turkey's energy minister says his country will weigh a Russian proposal to set up a new natural gas link to Turkey and the possible creation of gas hub on its border with Greece.

Taner Yildiz spoke Tuesday a day after visiting Russian President Vladimir Putin announced that Moscow is spiking a multibillion dollar gas pipeline project for southern Europe amid spiraling tensions with the West. Putin said Russia will instead focus on boosting energy ties with Turkey.

Yildiz said the proposal would boost Turkish aims of becoming a world energy hub but said it was too early to "pronounce a final word" on it.

The minister said: "It will be studied and the results of the study will be presented to our president and prime minister."