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Turkiye’s Thrace set to become Europe’s energy epicenter

Turkiye’s Thrace set to become Europe's energy epicenter
By Ahmet Kocak
Jan 19, 2024 10:32 AM

Thrace region has been selected for the gas hub that Moscow and Ankara want to develop, making Turkiye the biggest natural gas hub in Europe

Turkiye is preparing to become Europe’s largest gas supplier and a hub country for increasing energy exports of producer countries with the natural gas hub planned to be established in the Thrace region.

The BOTAS Petroleum Pipeline Corporation delegation will travel to St. Petersburg this week to meet with Gazprom officials to discuss the details of the natural gas center planned to be established in Thrace this year.

The technical visit planned in the meetings between Russian Deputy Prime Minister Alexander Novak and Minister of Energy and Natural Resources Alparslan Bayraktar within the framework of the 18th Term Meeting of the Turkish-Russian Joint Economic Commission held in November 2023 will take place this week.

During the meeting, Novak said that there is close cooperation between Russian and Turkish companies on the gas hub, a visit of the Turkish delegation to St. Petersburg is planned, and agreements on the project’s practical implementation will soon be made.

“There is a close interaction between Gazprom and Botas on the gas hub. A roadmap is currently being agreed upon. The Turkish delegation is planning to come to St. Petersburg to learn about the developments. I am sure that the agreements will continue. The practical implementation of the project will be reached shortly,” Novak said. 

According to the December 2020 Natural Gas Market Report published by the Energy Market Regulatory Authority, Turkiye’s natural gas imports increased by 6.45% compared to the previous year and amounted to 48 billion 125 million cubic meters, while natural gas exports decreased by 24,28% to 577,52 million cubic meters.

Natural gas production decreased by 6.88% compared to the previous year and amounted to 441 million cubic meters, while natural gas consumption increased by 6.93% to 47 billion 987 million cubic meters.

The fact that domestic reserves and production amounts remain at very limited levels in meeting current and potential use has made natural gas imports compulsory for Turkiye.

Source: Newsroom

Last Updated:  Jun 5, 2024 4:43 PM