According to him, with the launch of the hub, the work of companies will significantly speed up and simplify.
“The first legislative decisions regarding the gas hub have been adopted by parliament. Thanks to this, the Turkish oil and gas company Botaş, as well as other companies, will be able to work much faster and easier,” said Fatih Donmez.
According to the minister, after the start of the gas trading center, “prices will go down, which is important for Europe”, while “Turkey will become one of the markets which determine the reference price of gas” .
Turkey’s Minister of Energy and Natural Resources also pointed out that the republic “is capable of purchasing around 100 billion cubic meters of gas per year. The country itself consumes 60 billion and 40 billion is able to sell to neighboring states. ”
Donmez explained that previous legislation placed many restrictions on the ability to export natural gas.
In this regard, as new changes are made to the legislation, the Turkish side intends to use free volumes within the framework of trading on the gas hub under construction.
As noted by the Turkish minister, Ankara is currently considering various options for cooperation with other states in order to transport and sell gas to Europe. So, there is already an agreement with Azerbaijan on this subject, concerning the creation of a joint company.
Recall that the possibility of creating a gas hub in Turkey was announced in October 2022 by Russian President Vladimir Putin during a meeting with the Head of the Republic of Turkey Recep Tayyip Erdogan. According to Putin, the new gas hub can become a platform for determining the price of blue fuel, which will exclude politicization of this issue.
