• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 7 days A question...
  • 12 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 13 days They pay YOU to TAKE Natural Gas
  • 18 days The United States produced more crude oil than any nation, at any time.
A Promising Solution to Boosting Ethanol Production

A Promising Solution to Boosting Ethanol Production

Osasa-based researchers have found that…

7 Global Economic Myths Shattered

7 Global Economic Myths Shattered

There are many myths about…

Turkey Proposes Reform To Advance Plans For Natural Gas Hub

The ruling party in Turkey on Wednesday proposed a reform of the natural gas market to make it competitive and diversified in a move to advance its plan to become a natural gas hub.

The ruling AK Party submitted a bill to Parliament today that would allow both state firm BOTAS and foreign companies to trade and import natural gas, Reuters reports. The bill also proposed a spin-off of the gas supply and gas infrastructure operations of BOTAS, in a bid to encourage free trade and competition.

Turkey currently imports all the natural gas it needs via pipelines and LNG import facilities. The country is also betting on recent gas discoveries in the Black Sea to slash its gas imports and diversify its energy sources.

But Turkey has big plans to become a hub for natural gas supply and trading - an idea floated at the end of last year by Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin.

Turkey is preparing to potentially host a gas hub for Russian and other gas, although that may not be politically palatable to the EU. 

At the end of last year, Erdogan and Putin agreed to set up a natural gas hub in Turkey, the Turkish president said at the end of October.

A week earlier, Putin had suggested that Russia redirect natural gas supplies intended for the damaged Nord Stream pipelines to the Black Sea in order to create a European gas hub in Turkey

European officials and analysts are concerned that such a hub could mask Russia’s gas and have Europe import it.

Since Putin first suggested the creation of the gas hub in Turkey, the two countries have not wasted time and instructed in October their respective energy regulators to immediately begin technical work to make the Russian proposal a reality.  

“There will be no waiting” on this issue, Erdogan has said, as carried by AP.  

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News