The Turkish president has faced criticism from fellow NATO members over his relations with Russia despite the ongoing war in Ukraine.
Russian President Vladimir Putin has put forward Turkey as a potential hub for Russian gas to third parties, including Europe, with a new pipeline.
During a meeting with his Turkish counterpart Recep Tayyip Erdogan on the sidelines of a security conference in Kazakhstan, Putin also suggested setting up a natural gas exchange market in Turkey to determine prices, according to the Interfax news agency.
"We could consider building another gas pipeline and creating a gas hub in Turkey for sale to third countries, especially in Europe," Putin said.
What is the TurkStream pipeline?
According to Putin, more gas could be piped to Europe via Turkey. This is "currently the safest supply route," he said.
The Turkstream pipeline, which runs through the Black Sea and Turkey to southeastern Europe, is currently the only pipeline that still supplies significant quantities of Russian gas to Europe.
However, the Kremlin said TurkStream cannot be a replacement for the Nord Stream pipelines through the baltic Sea, Russian media reported Thursday.
Erdogan announced plans to develop the agreement on exporting grain and fertilizer from Russia through Turkey to supply "developing countries."
How NATO partners have reacted to Turkey's relations with Russia
Under Turkish and UN mediation, an agreement had been negotiated in July to allow the export of Ukrainian and Russian agricultural products.
Erdogan has highlighted, though, that most of the supplies since then have gone to wealthier countries.
Amid criticism from Turkey's NATO partners, Erdogan has defended his cooperation with Moscow since Russia invaded Ukraine in February.
Russia and Turkey's cooperation "will certainly be resented by some, but developing countries will certainly be happier," Erdogan said of his dialog with Putin.
The United States and the European Union had recently increased pressure on NATO member Turkey to join their sanctions against Russia over its attack on Ukraine. Erdogan, on the other hand, argues that Turkey, as a neutral actor, could help obtain a possible cease-fire between Kiev and Moscow.