Turkish Minister of Energy and Natural Resources Fatih Dönmez stressed that Turkey will emerge as a reliable partner and a safe path in the event that the natural resources of the Caspian Basin, the eastern Mediterranean and the Middle East are delivered to European markets.
This came in a speech during the second edition of the Algeria Investment Conference on Wednesday in Algiers.
“If the natural resources of the Caspian Basin, the Eastern Mediterranean and the Middle East are transferred to European markets in the near future, Turkey will emerge once again as a reliable partner and a safe route,” he said.
He added, “In this way, we will come a step closer to our goal of becoming a center for gas trade in our region, with additional gas entering our country from various sources.”
He pointed out that relations between Turkey and Algeria are developing with great momentum under the leadership of the two countries’ presidents, especially in the recent period, noting that the volume of trade between the two countries exceeded 4 billion dollars.
He stressed that they wish to start exploratory talks as soon as the preferential trade agreement between the two countries is dissolved, in order to cross this first threshold in the volume of our trade.
Dönmez stressed that Algeria is the country with the most Turkish investments in Africa, adding, “Currently, the number of companies with Turkish partnerships in Algeria is close to 1,500.”
Dönmez considered that the polypropylene production facility to be established in the Ceyhan region in the southern Turkish state of Adana, in partnership between the Algerian National Oil and Gas Company Sonatrach and Ronance Holding Company, is a pioneer in the investments that Algeria will implement in Turkey.
He expressed Turkey’s desire to intensify and increase mutual investments in the coming period between the two countries in areas such as energy, renewable energy, mining, banking, agriculture, food industry and health.
He stressed his country’s readiness for multilateral cooperation on the basis of mutual profit in order to increase investments.
Dönmez emphasized that Turkey occupies a very strategic position due to its geographical and geopolitical location and its proximity to gas-exporting countries and consumption points.
He explained, “The importance of Turkey’s location is no longer only we say, but the countries that demand gas, our neighbors and the gas-supplying countries express their intentions to implement the strategy of the gas center in Turkey as soon as possible, and we have a positive approach regarding this goal and we are working to achieve it.”
Dönmez stated that Turkey is continuing its efforts to become not only a region or a gas trading center, but also a distribution center.
And he added, “We currently have a stock exchange called “EPİAŞ” which manages the national energy market for electricity and natural gas and we will also use our existing technological infrastructure here to achieve the goal of our gas center. We hope by the end of this year we will define and announce our roadmap on this matter.”
He continued, “We are planning to organize a summit on natural gas in Istanbul from January to February next year and we will be very happy to participate in this summit with our Algerian friends who are one of the most important natural gas producers and exporter of liquefied natural gas.”
Dönmez recalled that the Turkish Oil Company discovered an important gas reserve of 540 billion cubic meters in the Black Sea during the last period.
He stressed, “We aim to deliver natural gas discovered in the Black Sea to our country’s gas system in 2023. This discovery is important not only for the security of supplies for Turkey, but for European and global markets as well.”
He stressed that the capabilities and opportunities of the Turkish Petroleum Company have developed significantly in the past five years.
Dönmez noted that the Turkish Petroleum Company is closely interested in cooperation and partnerships in Algeria.
Minister Dönmez indicated that Turkey has reached an important position not only in terms of the existing institutional capacity, but also in terms of the products and supplies needed to deploy renewable energy plants.
“I would like to confirm that we are ready to develop our cooperation with Algeria in all areas of renewable energy,” he explained.
He stressed, “We will continue to strengthen our economic, social and cultural ties in all friendly and brotherly geographical regions, foremost of which is Algeria, and we will continue our strong support to increase the number of companies doing business on a global scale.”