Turkey’s Zorlu: With abundant gas in market, price fall inevitable
Baku, Azerbaijan, Feb. 16
By Leman Zeynalova – Trend:
Turkey will start receiving 80 billion cubic meters of natural gas once Turkish Stream and Trans Anatolian Natural Gas Pipeline (TANAP) projects are completed, Sinan Ak, head of Turkey-based Zorlu Energy Group, told Turkish media.
He pointed out that Turkey currently receives about 55 billion cubic meters of gas.
“If Israeli gas is also supplied via Turkish Stream and TANAP pipelines, the volume of natural gas which will flow through Turkey can reach 90 billion cubic meters,” said Sinan Ak.
With so much abundant natural gas in the market, the decline in gas prices is inevitable, he added.
TANAP project envisages transportation of gas from Azerbaijan’s Shah Deniz field to the western borders of Turkey.
The length of TANAP is 1,800 kilometers with the initial capacity of 16 billion cubic meters. Around six billion cubic meters of the gas will be delivered to Turkey and the remaining volume will be supplied to Europe.
The gas will be delivered to Turkey in 2018 and after completion of the Trans Adriatic Pipeline’s construction the gas will be delivered to Europe in early 2020.
TANAP shareholders are Azerbaijan’s state oil company SOCAR (58 percent), BOTAS (30 percent) and BP (12 percent).
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