Türkiye actively functioning as gas hub for EU energy security (Exclusive)

Oil&Gas Materials 3 January 2024 07:50 (UTC +04:00)
Türkiye actively functioning as gas hub for EU energy security (Exclusive)
Lada Yevgrashina
Lada Yevgrashina
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BAKU, Azerbaijan, January 3. Türkiye, which will legally formalize its status as an international gas hub in 2024, has practically been executing these responsibilities in 2023, the country's Deputy Minister of Energy and Natural Resources Nevzat Satiroglu told Trend.

"Currently, Türkiye obtains gas from a variety of countries, including pipeline gas (mainly from Russia and Azerbaijan) and liquefied gas from a variety of sources, including the United States. We mix them and utilize what we need. We signed gas supply deals with Bulgaria, Romania, and Hungary in 2023, thereby serving as a 'bridge' between gas producers and purchasers in the EU," noted the official.

He added that in 2023, additional gas was transited through Türkiye to Bulgaria (own sales by the State Oil Company of Azerbaijan - SOCAR in the autumn, outside the international contract for gas supplies from Shah Deniz), Romania, and Hungary (via swap) to cover the gas deficit in these EU countries.

"We have already provided the necessary conditions for gas supplies to our brethren in Europe, including the direct sale of Azerbaijani gas in the western direction. Although the volume is not significant, the most important fact is that such operations have begun," emphasized Satiroglu.

In 2025, Bulgaria will be able to receive more gas from various sources due to the increased capacity of its infrastructure, and part of the planned volumes will inevitably transit through Türkiye, the deputy minister explained.

Regarding negotiations with Russia on the implementation of its idea of a gas hub in the European part of Türkiye (similar to a gas trading exchange in Istanbul), he pointed out that the process of reaching contractual documents is underway.

"Due to the armed conflict with Ukraine, Russia is forced to seek alternative outlets for its gas. In this matter, the mutual interests of countries, geopolitical issues, and European expectations are important factors that we must consider," Satiroglu stressed.

He also recalled that Türkiye has five LNG (liquefied natural gas) terminals through which gas can be received by Türkiye's European neighbors.

The official added that negotiations with Azerbaijan continue on an addition to the transit agreement necessary for the planned doubling of gas supplies to the EU via TANAP (Trans-Anatolian Natural Gas Pipeline).

Thus, Türkiye plays a crucial role in ensuring the energy security of Europe.