Erdogan keen to create international gas hub in Türkiye

Turkish President Recep Tayyip Erdogan has said that his government wants to form an international gas hub in the country, the participants of which will be determining the prices for this resource.

He made these remarks on November 12 at the launching ceremony of gas distribution networks in the province of Kastamonu in the north of the country.

"We are ready to cooperate on any issues related to gas pipelines and liquefied natural gas [LNG]. In this regard, we are actively negotiating with many countries in Central Asia and the Mediterranean Sea.

We are preparing to create a gas market in Türkiye that will bring together more than one player on one platform, will allow concluding contracts, and thereby form gas prices", the Anadolu Agency quoted the president as saying. 

Erdogan recalled that seven export gas pipelines pass through the Turkish territory and that the country has two LNG terminals, two floating LNG storage and regasification units, and two underground gas storage facilities.

The president also said that Türkiye has accelerated work to start gas production from the country's biggest natural gas reserve in the Sakarya field in the Black Sea. The gas field, discovered only in August 2020, is estimated to hold 540 billion cubic metres (bcm) of gas reserves and is the first deepwater gas field discovery in Türkiye. 

Erdogan added that specialists have completed the drilling of 9 out of 10 wells in the Black Sea.