10/7/2013

Turkey 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, Turkey 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 Turkey and Poland, in an interview with the Turkish press.


“Considering its geographically advantageous position, Turkey, 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 Turkey 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 Turkey’s business environment was very welcoming for foreign investors, the EWE board member said that the Investment Support and Promotion Agency of Turkey (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 Turkey.” Schober said, praising Turkey’s official investment promotion agency.


EWE Turkey is the majority shareholder in Turkey’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 Turkey, will also link with Trans-Adriatic Pipeline (TAP) to carry gas to Europe.

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