Announcements

Turkish Natural Gas Market is Changing its Shell… The Objective: Becoming a Natural Gas Trade Hub

As revealed by our President, the drilling ship Fatih discovered a natural gas reserve of 320 billion m3 in the Black Sea Sakarya Gas Field, causing happiness throughout Turkey, and the Energy Market Regulatory Authority has rolled up its sleeves to study the effects of this discovery on the energy market.

As it is well known, Turkey’s natural gas infrastructure has been fortified during the recent years by major investments realized by BOTAŞ and the private sector. The capacities of our transmission, distribution and storage facilities have been increased. International projects such as Turkish Stream and TANAP were implemented, new LNG/FSRU facilities were commissioned, and the natural gas distribution network has been expanded to reach as many as 81 provinces and 555 counties/townships.

In line with the joint strategy determined with the Ministry of Energy and Natural Resources, roles that had been assigned to our country in the past, as a bridge, a crossroads or transit were outright rejected, and the new goal was determined as “becoming a natural gas trade center.”

Undoubtedly, one of the most important milestones here is the commissioning of the Organized Natural Gas Wholesale Market (Natural gas exchange), the regulatory basis of which was formed by EMRA and established under EXIST on 1 September 2018.

Looking at the realization figures registered by our natural gas exchange over the past 2 years, it can be seen that a total quantity of 3.2 billion m3 of natural gas was traded, a total transaction volume of 4.7 billion TRY was realized and the average Daily Gas Reference Pricevalue was around the 1460 TRY/1000 Sm3. For a recently established stock exchange, these figures are quite pleasing and are an indication of the confidence felt by the players in the market towards our legislation and institutions.

As the recently discovered Black Sea natural gas is introduced into the system, Turkey’s natural gas market is set to gradually expand as supply sources are diversified, there will be more liquidity and depth in the natural gas exchange, and a significant reduction will be seen in the energy costs of residential and industrial consumers.

The Countdown Is On For The Futures Gas Market

The Futures Gas Market(FGM), intended to be operational in 2021 as part of the Ministry of Energy’s 2019-2023 Strategic Plan, also has great importance in terms of creating a market where the natural gas we produce on our own can be sold through futures contracts. EMRA has nearly reached the end of its studies to address this opportunity.

A draft has been prepared to offer new options to market players who carry out transactions in our natural gas exchange and to minimize uncertainties with regards to prospective prices. The first meeting of the workshop process in which all interested parties (EMRA, EXIST, BOTAŞ, Private Sector NGOs and Companies) gather together in order to make the final touches to the draft and submit it to the approval of the Energy Market Regulatory Authority has been held.

In this first meeting attended by more than 50 participants, product types and terms to be offered in the FGM were evaluated by the parties, and EMRA informed the participants with respect to the types of futures products traded in international developed markets.

What Will the Futures Natural Gas Market Slated to be Introduced in 2021 Bring?

With the futures natural gas market, it will be possible to achieve objectives such as;

– Market predictability,

– Eliminating risks stemming from price uncertainties,

– Increasing the depth and liquidity in the market, which are essential for a healthy and competitive natural gas market.

By introducing innovative products that require future-dated physical delivery to the organized market, an alternative movement flexibility will be provided to the players trading in the OTSP in terms of their own positions, the market depth will be increased, future uncertainties will be minimized and great contributions will be made towards ensuring supply security.

Evaluating this matter, EMRA Chairman Mustafa Yılmaz said that, with the futures gas market to be operational in 2021, the players trading in the natural gas exchange would have the opportunity to purchase-sell in advance the domestic natural gas which is intended to be introduced into the system in the year 2023, through futures contracts… Yılmaz added, “Hopefully, we will see the positive effects of our Black Sea gas on the gas prices in our country even before its production begins.”

EMRA Chairman also added the following statement:

“As EMRA, after the production of our domestic natural gas that we discovered in the Black Sea, we will play a part in its commercialization and introduction into the system. We will ensure that our domestic natural gas is offered to our consumers in the most affordable way by carrying out the necessary licensing and regulation efforts.

With this discovery and our futures gas market, Turkey will be one step closer towards its goal of becoming a natural gas trade center. Granted, our natural gas market is already in a very good position. However discovering our own natural gas in the process, is the cherry on top… We will be proud to be regulating our own natural gas…  As we celebrate the second year of our natural gas exchange, I would like to take this opportunity to express my gratitude to everyone for their efforts, especially to our Minister who supported process of establishing the OTSP.”

Reference: News article dated 15.09.2020, as published on the EMRA website.

ELECTRICITY MARKET ANNOUNCEMENTS

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Date Title Category
19.03.2021 About Publishing Eligible Customer Activity in April 2021 Eligible Consumer
15.03.2021 February 2021 Electricity Market Settlement Notice Announcements Electricity Kayıt ve Uzlaştırma Market
05.03.2021 Requests of Non-Registered or Outdated Metering Points for April 2021 Period Eligible Consumer
26.02.2021 About Publishing Final Eligible Customer Lists for March 2021 and the beginning of April 2021 Request Period Eligible Consumer
22.02.2021 Retrospective Correction Item Objection Process. Electricity Registration and Settlement
19.02.2021 About Publishing Eligible Customer Activity in March 2021 Eligible Consumer
15.02.2021 January 2021 Electricity Market Settlement Notice Electricity Registration and Settlement
11.02.2021 January 2021 Electricity Market Settlement Notification Control Electricity Registration and Settlement
05.02.2021 Requests of Non-Registered or Outdated Metering Points for March 2021 Period Eligible Consumer Uncategorized
27.01.2021 About Publishing Final Eligible Customer Lists for February 2021 and The beginning of March 2021 Request Period Eligible Consumer
19.01.2021 About Publishing Eligible Customer Activity in February 2021 Eligible Consumer
15.01.2021 December 2020 Electricity Market Settlement Notice Announcements Electricity Kayıt ve Uzlaştırma
11.01.2021 December 2020 Electricity Market Settlement Notification Control Electricity Registration and Settlement
06.01.2021 About The Elimination of Eligible Customers with Lower Consumption than The Eligible Consumer Limit Eligible Consumer
05.01.2021 Requests of Non-Registered or Outdated Metering Points for February 2021 Period Eligible Consumer
04.01.2021 Important Reminder About The EXIST Help Desk! Announcements Corporate Electricity Natural Gas
28.12.2020 Regional Seasonality Coefficients (January – June 2021) Collateral Electricity
25.12.2020 Profile Coefficients for 2021 Electricity Registration and Settlement
25.12.2020 About Publishing Final Eligible Customer Lists for January 2021 and The beginning of February 2021 Request Period Eligible Consumer
22.12.2020 Eligible Customer Limit For 2021 Eligible Consumer
15.12.2020 November 2020 Electricity Market Settlement Notice Electricity Registration and Settlement
11.12.2020 November 2020 Electricity Market Settlement Notification Control Electricity Registration and Settlement
08.12.2020 Emergency Support Hotline Announcement Electricity Natural Gas
04.12.2020 Requests of Non-Registered or Outdated Metering Points for January 2021 Period Eligible Consumer
26.11.2020 About Publishing Final Eligible Customer Lists for December 2020 and The beginning of January 2021 Request Period Eligible Consumer
19.11.2020 About Publishing Eligible Customer Activity in December 2020 Eligible Consumer
16.11.2020 Announcement Regarding IP Addresses Electricity Kayıt ve Uzlaştırma Natural Gas
16.11.2020 October 2020 Electricity Market Settlement Notice Electricity Registration and Settlement
05.11.2020 Requests of Non-Registered or Outdated Metering Points for December 2020 Period Eligible Consumer
19.10.2020 About Publishing Eligible Customer Activity in November 2020 Eligible Consumer

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