(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 5. Türkiye plans toincrease exports of liquefied natural gas (LNG) to Europe, and isalso ready to offer excess gas reserves from Russia and Azerbaijanto the European market, President of the Turkish Association ofNatural Gas Distributors (GAZBIR) Yashar Arslan says, Trend reports.
Arslan noted that amendments to the mining law and other energylaws adopted by the Turkish Grand National Assembly on May 2, 2024have opened up new opportunities for LNG trade with Europeancountries, especially with neighboring countries. According to him,these legislative changes are aimed at developing the liquefiednatural gas sector in Türkiye and its export.
He also noted the growing importance of LNG trade on worldmarkets, especially in the European Union, due to the currentsituation in Ukraine.
Arslan said that 40% of European countries' annual demand fornatural gas, which amounts to 450 billion cubic meters, is coveredby LNG.
Türkiye imported 50.5 billion cubic meters of gas in 2024, 30%of which was LNG, according to the Energy Market RegulatoryAuthority.
Arslan noted that over the past 10 years, the share of LNG ingas imports to Türkiye has increased from 15% to 30%. In hisopinion, this share could reach 40% thanks to investments in theglobal LNG sector in the coming years.
MENAFN04052024000187011040ID1108174009
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.