Turkey To Diversify Energy Imports Following Gazprom Disagreement

n the wake of its recent decision to cancel its natural gas contracts with Russia’s state company Gazprom, the Turkish government is considering its energy import options.

Black Sea Energy and Economic Forum director Zeynep Dereli stated, “It is time to diversify Turkey’s energy supply channels and let private Turkish companies negotiate the deals. In this way we will be able to procure gas at lower prices. Private companies can negotiate better terms.”

Dereli also underlined the importance of the Interconnector Turkey Greece Italy pipeline, a joint project between the Public Gas Corporation of Greece and Italian gas company Edison SpA, commenting, “I actually believe that the Southern Corridor can start with the Interconnector Turkey Greece Italy pipeline, as it requires only 10 billion cubic meters of gas, which is already available, and then Nabucco can be implemented. Nabucco will not and cannot be operational until 2017 at the earliest and ITGI can be the key in starting the transfer of gas from the Caucasus to Europe via Turkey. It does not require as much investment and there is sufficient supply for it already,” Istanbul’s Zaman newspaper reported.

Public Gas Corporation of Greece DEPA Chairman Harry Sachinis also supports the Interconnector Turkey Greece Italy pipeline, telling journalists, “We have many prospective buyers lined up to buy capacity rights, providing a ready-made customer base.”

By. Charles Kennedy, Deputy Editor Oilprice.com