Turkiye Is Ready To Export Excess Gas Reserves From Russia And Azerbaijan
(MENAFN- AzerNews) Nazrin Abdul, AZERNEWS
Turkey plans to increase exports of liquefied natural gas (LNG)to Europe, and is also ready to introduce excess gas reserves fromRussia and Azerbaijan to the European market, Azernews reports citing the President of theNatural Gas Distributors Union of Turkiye (GAZBIR) YasharArslan.
Y. Arslan noted that the law on the mining industry adopted bythe Grand National Assembly of Turkiye on May 2, 2024 and thechanges made to other energy laws have opened up new opportunitiesfor LNG trade with European countries, especially neighboringcountries.
According to him, these legislative changes are aimed at thedevelopment of the liquefied natural gas sector in Turkiye and itsexport.
He also noted the growing importance of LNG trade in worldmarkets, especially in the European Union, due to the currentsituation in Ukraine.
Y. Arslan said that 40 percent of European countries' annualdemand for 450 billion cubic meters of natural gas is met byLNG.
Referring to the indicators of the Energy Market RegulatoryAuthority, he said that Turkey imported 50.5 billion cubic metersin 2024. m of gas, 30% of which was LNG.
Y. Arslan noted that the share of LNG in gas imports to Turkiyehas increased from 15 percent to 30 percent in the last 10 years to him, this share may reach 40 percent in the comingyears thanks to investments in the global LNG sector.
MENAFN05052024000195011045ID1108175778
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.