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Turkoglu: “Future Natural Gas Market will start operations in 2021.”

XVII International Forum “Russian Gas – 2019” was held in Moscow on the 6th of December 2019.

This forum is the most representative sectoral forum in Russia and it serves as a platform for a discussion on the main challenges faced by the gas power industry. Heads of Russian governmental authorities, managers of the largest international and demostic companies as well as representatives of international expert community attended.

EXIST General Manager Ahmet Türkoğlu presenting about “Turkish Power Market” in the session entitled “New development paths of the Russian gas market: regional aspects and innovations”.

Mr. Turkoglu started his presentation with the overview of Turkish Energy Market, power and gas.  Turkoglu said that “In Turkey, we have liberalization experience in power market. Also we are working on liberalizing gas market.”

“Installed capacity increased more than tripled. It was around 27 GW in 2000 and reached 91 GW this year.  Renewable contribution is the main factor in this capacity boom and today, half of our generation capacity is from renewables.” he said.

Turkoglu said that Future Natural Gas Market will start operations in 2021. “The share of our market volume over total consumption is around 2.5%. This is why most of the supply is via long term contract. The prices in our spot market are higher than European markets. The organized market have a key role to be a referance for pricing mechanism in long term contracts.” Turkoglu said.

“Turkey has a geostrategic position as a bridge between gas reserves and gas demands. Our geography and gas infrastructure have given us this opportunity to become a regional gas hub. Our market is capable of providing trading opportunity to those markets.” Turkey has a potential for investment in natural gas trade, added Turkoglu.

After the beneficial meeting between Mr. Ahmet Türkoğlu and Aleksei Rybnikov, SPIMEX CEO , the parties expressed their wishes for cooperation that could be developed together.

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