Türkiye advances infrastructure for international gas hub in Istanbul

Türkiye is making significant strides towards establishing an international gas hub in Istanbul, said Alparslan Bayraktar, the country's Minister of Energy and Natural Resources. 

Bayraktar revealed that efforts are currently underway to build the necessary infrastructure for the hub, which aims to solidify Türkiye's position as a key player in the global energy market, Caliber.Az reports per Turkish media.

"The works on the project to create a gas hub in Istanbul continue. We are currently focused on developing its infrastructure," Bayraktar said, underscoring the government’s commitment to the ambitious initiative.

In addition to the gas hub, Bayraktar also outlined plans to move the Energy Exchange to Istanbul's new financial district by April-May 2025. This strategic relocation is part of a broader vision to enhance the city’s role as a regional financial center.

Further building on this vision, Türkiye intends to establish an international commodity exchange, focused on the trade of carbon units, following the Turkish Parliament's anticipated passage of a comprehensive climate law. This will enable Türkiye to engage more actively in global carbon trading, positioning it as a central hub for climate-related financial instruments.

By Vafa Guliyeva