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Turkiye is driven by ambitious target of becoming gas trading hub

27 October 2022 11:27 (UTC+04:00)
Turkiye is driven by ambitious target of becoming gas trading hub

By Nur Banu Aras

Turkiye is planning to become a gas trading hub, Yeni Shafak reports, citing Turkish Energy and Natural Resources Minister Fatih Donmez.

The minister made the remarks while answering questions following the October 25 cabinet meeting.

Commenting on Turkiye's proposal for Russia's natural gas shipments, Donmez underlined that Turkiye owns seven pipelines, five Liquefied Natural Gas (LNG) facilities, three of which are floating storage and gasification units (FSRU), and two underground natural gas storage facilities. Donmez stressed that efforts are underway to establish Turkiye as a gas trading hub.

"Our subject-matter teams are nearing the end of their job. By the end of the year, we will have clarified our roadmap. The crucial issue here is to consider both the buyer and the seller. Turkey, as witnessed in prior initiatives, is an important country, " he stressed.

Donmez was also asked if it was feasible to work with Russia on both oil and gas projects.

"Turkey is where the refineries sell crude oil. In the private sector, two examples are TUPRAS and Star Refinery. There are 4 refineries in TUPRAS. Typically, it was signed a year ago. In other words, these institutions' spot purchases are not extremely high. A different concern is how their spending habits may change as the new year begins. Each refinery arranges a purchase deal months in advance and anticipates how much it will use this year and from which sources," he answered.

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