10/7/2013

Türkiye to become a natural gas trading hub

Haber7.com – Sitting on vital energy routes between major natural gas markets in Europe and supplier countries in the Caucasus and the Middle East, Türkiye is perfectly positioned to become a center for the trade of natural gas reaching European customers, according to Willem Schoeber, board member of the German energy company EWE responsible for Türkiye and Poland, in an interview with the Turkish press.


“Considering its geographically advantageous position, Türkiye, in the long term, has the potential to control the price of natural gas flowing to Europe. As a vitally important transit country, I believe Türkiye will become an important trade hub for natural gas in the future, much like Rotterdam is for oil today.” Schoeber remarked. The Dutch port city of Rotterdam is a key spot for trading petroleum products.


Stating that the Türkiye’s business environment was very welcoming for foreign investors, the EWE board member said that the Investment Support and Promotion Agency of Türkiye (ISPAT) was playing a key role in meeting the needs of foreign companies investing in the country. “ISPAT’s services are critical in securing follow-up investments from existing investors in Türkiye.” Schober said, praising Türkiye’s official investment promotion agency.


EWE Türkiye is the majority shareholder in Türkiye’s third largest gas provider, Bursagaz, and another regional gas provider, Kayserigas. The company plans to invest TRY 200 million (approx USD 100 million) to expand both operations over the next 5 years, according to Schoeber.


The Trans-Anatolian Gas Pipeline (TANAP), the projected gas pipeline stretching from Azeri gas fields to Türkiye, will also link with Trans-Adriatic Pipeline (TAP) to carry gas to Europe.

Image of Gas Pipeline
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