Erdogan: We are preparing to establish an advanced international market

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Turkish President Recep Tayyip Erdogan announced Saturday that his government is preparing to establish an advanced international market for natural gas in the country.

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This came in a speech during his participation, via video call, in the ceremony of delivering natural gas to new areas in the state of Kastamonu in northern Turkey.

Erdogan indicated that steps have been taken to qualify Turkey to be a center for natural gas and continue its work to provide all cities with gas networks.

He said that the Turkish state has 7 international natural gas pipelines, onshore and two offshore LNG facilities, as well as underground natural gas storage facilities.

He explained that Turkey’s daily natural gas capacity has reached 360 million cubic meters.

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He stressed that thanks to its natural gas storage tanks, Turkey can today meet the sudden rise in demand during the winter season without putting pressure on the system or placing an additional burden on it.

He pointed out that the construction of a new floating liquefied natural gas facility is continuing in the Sarros region overlooking the Aegean Sea and the expansion of the underground natural gas storage facility in the Silivri area of ​​Istanbul.

He indicated that when domestic gas comes into use, Turkey will become a country in which natural gas shipments compete with each other and supervise the setting of the market reference price in its region.

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He also affirmed Turkey’s readiness to establish any kind of cooperation with other parties in order to lay new pipelines for natural gas and liquefied natural gas.

And he added, “This is why we are in close contact with countries in a wide region, from the Middle East and Central Asia to the Mediterranean.”

He added, “We are preparing to create an advanced natural gas market in our country where multiple actors, multiple products and multiple contracts come together and set benchmark prices.”

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He continued, “We are working day and night to provide more good news and give our people new achievements in various fields, including energy, in 2023, the centenary of our republic.”