Last year made a hint to the world that gas could soon become a global commodity, just like oil. Some believe that the energy market is in the period of transition now. Trade in LNG became easier and cheaper, large infrastructure projects and pipelines do not scare investors so much since there is a strong belief that the projects’ payback will be high as demand grows.

Natural gas prices may undergo reduction, as the volume of gas supplies to Turkey is expected to increase significantly due to implementation of such large-scale energy projects as the Turkish stream and the Trans Anatolian Natural Gas Pipeline project (TANAP).

The country delivered some 5.31 billion cubic meters (bcm) of gas in the reported period, as compared to 5 bcm in the same period of 2015.

With its huge oil and gas reserves, Iran is currently planning to play a key role in the world energy market – and since the P5 + 1 nuclear agreement and the lifting sanctions on the Iranian energy sector, the country is now poised to do so more than ever.