Turkey’s Natural Gas Futures Market launced on October 1

The opening ceremony of Natural Gas Futures Market (GFM) took place yesterday with the participation of public and private sector representatives.

Minister Fatih Dönmez: “Turkey became the first country in its region where the price of natural gas was generated in the free market”

Turkey’s Energy and Natural Resources Minister, Fatih Dönmez said that “2021 was an important year in which we opened three markets for the liberalization of our energy markets. After Power Futures Market and Renewable Energy Guarantees of Origin System &Organized YEK-G Market, which we opened in June, we are also launching our second futures product, the Natural Gas Futures Market. EXIST started its activities not so long ago as Turkey’s first energy exchange, taking over the operation of the Day Ahead Market from TEİAŞ. During the past period, the day ahead and intraday markets have increased products and times in both electricity and natural gas with instruments such as the balancing power market, the Power Futures Market, the Organized Spot Natural Gas Market and YEK-G, creating a significant market volume and market depth.”

Minister Dönmez reminded that Turkey is the first country in the region where the price of natural gas is formed in the free market, “Especially with the opening of spot natural gas market, which is the first organized wholesale natural gas market of our region, we have implemented a market where shorter trades can be made during the year and daily prices are formed. In this respect, it is especially important that the Natural Gas Futures Market comes into play in these days when there is a serious energy bottleneck in global markets.”

Abdullah Tancan: “We try to produce user-friendly solutions in cooperation with our stakeholders”

Speaking at the opening ceremony, EXIST Chairman of the Board Abdullah Tancan mentioned the natural gas future market preparation process and said, “In cooperation with our stakeholders,   we try to produce user-friendly solutions that will provide added value to the energy sector and energy market, simplify processes. The Natural Gas Futures Market emerged as the product of such a study entirely domestically and nationally, with the selfless and valuable work of our market and employees.”

 “With the increasing volume of transactions, EXIST is the 4th most traded energy Exchange company in Europe.”

Abdullah Tancan reminded that EXIST is the fourth largest energy exchange in Europe, “Turkey is currently the fifth highest installed capacity country in Europe. Renewable resource installed power has a significant 53%.  Its share of production was about  43% last year.”

Underlining that EXIST has contributed to the deepening of the market volume with Power Futures and Natural Gas Markets that it has brought to the energy sector, he emphasized that he will focus on the efforts of international market participants to trade more in the market in order for Turkey to become an energy trade center.

Ahmet Türkoğlu: “As an alternative to our participants, we will offer trading opportunities in monthly, quarterly and annual contracts”

Speaking at the opening ceremony, EXIST CEO Ahmet Türkoğlu reminded that Natural Gas Futures Market will offer futures products in addition to the existing spot natural gas market, “We will provide our participants with the opportunity to trade in monthly, quarterly and annual contracts as an alternative. Our products are physically delivered products. At the same time, our products will change hands in the form of a financial product until the month of physical delivery, providing additional trade and arbitrage opportunities for our participants. With Natural Gas Futures Market, we will contribute to both increased trading volume and liquidity, as well as increased sustainability and predictability in the market.”

Noting that Natural Gas Futures Market will also contribute to security of supply, Türkoğlu said, “When we reach a liquid and deep market structure; I believe that the competitive reference prices that will occur in our market will have very positive repercussions for both our industrialists and consumers. At the same time, the volume of transactions generated in Natural Gas Futures Market will reduce future uncertainties.”

Pieter Schuurs: “EXIST will also be a means of price risk protection for Turkey and international markets with its new product”

PieterSchuurs, Chairman of the Board of EUROPEX and President of ICE ENDEX, who attended the opening ceremony online, stated that EXIST has been an active member since the first days of EUROPEX membership, and said, “We think that Turkey is an innovative  and predictable member. Like the Natural Gas Futures Market, you have come to the forefront as the institution that uses blockchain technology in this field for the first time in the YEK-G System, which you opened this year. You are operating the energy market very successfully and you have done it very quickly,” he said.

Emphasizing that transparency, reliability and the presence of a conceited legislation will ensure a healthy energy trade, Schuurs  said, “EXIST will also be a means of price risk protection for Turkey and international markets with its new product.”

The launch ceremony was attended Turkey’s TSO for electricty TEİAŞ by General Manager Orhan Kaldırım, Turkey’s TSO for natural gas BOTAŞ General Manager by Burhan Özcan, Takasbank  General Manager Avşar Sungurlu, EXIST’s members of board and EUROPEX Secretary General  Christian  Baer, as well as public and non-governmental organizations operating in the energy sector.



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