2022-11-02 11:25:00
TURKEY, SAUDI ARABIA ENERGY COOPERATION
DS - OCT 31, 2022 - Türkiye is looking for more cooperation with Saudi Arabia and other countries as it plans to be an energy hub to Europe, Finance Minister Nureddin Nebati said Monday.
“Türkiye, due to its geographical position, is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be shipped more safely,” Nebati told Arab News.
The minister was speaking on the sideline of the 6th edition of the Future Investment Initiative forum in Riyadh.
“Türkiye and Saudi Arabia are also assisting each other, which will bring peace to the region. That peace will bring more affordable gas prices, the energy prices, and will allow both countries to look ahead,” he also said.
The minister’s statements came after President Recep Tayyip Erdoğan said he had agreed with his Russian counterpart Vladimir Putin to form a natural gas hub in Türkiye amid the energy crisis that hit Europe hard.
"Türkiye will be a hub for natural gas. In our last meeting, we agreed with Putin on this issue. We will create a hub here with Turkish gas coming from Russia," Erdoğan said at the Justice and Development Party's (AK Parti) group meeting in the capital Ankara last week.
Putin has floated the idea of exporting more gas via the TurkStream gas pipeline running beneath the Black Sea to Türkiye, touting the country as the best route for redirecting gas supplies to the European Union after the Nord Stream pipeline leaks.
Erdoğan previously said Russian and Turkish energy authorities would work together to designate the best location for the potential gas distribution center.
Saudi Arabia is the world’s largest exporter of oil while it does not export gas even though its natural gas reserves amount to nearly 300 trillion cubic feet, making it the largest fifth gas reserve in the world.
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Earlier:
2022, October, 20, 14:10:00
TURKSTREAM IS WORKING
"The operation of TurkStream is now fully secured in the long term following the Dutch decision," foreign minister Peter Szijjarto was quoted as saying by Hungarian government spokesman Zoltan Kovacs.
2022, October, 19, 11:50:00
RUSSIA, TURKEY NUCLEAR TIMING
Akkuyu is the first nuclear power plant under construction in Turkey and will eventually host four units of Russian-designed VVER-1200 reactors.
2022, October, 5, 13:05:00
RUSSIAN GAS TO ITALY
Gazprom PJSC said it has found a solution with Italian buyers to overcome the regulatory changes in Austria at the end of September that were preventing transit flows,
2022, October, 4, 14:35:00
RUSSIAN GAS TO EUROPE IS POSSIBLE
"If a decision is made to start deliveries through Nord Stream 2's line B, natural gas will be pumped into the pipeline after the integrity of the system has been checked and verified by supervisory authorities," it said.
2022, September, 21, 13:55:00
TURKEY'S NUCLEAR SAFETY
An International Atomic Energy Agency (IAEA) team of experts said Türkiye’s nuclear and radiation regulator showed commitment to continuous improvement of safety and the protection of people and the environment.
2022, September, 6, 13:45:00
RUSSIAN NORD STREAM: ZERO
Russian flows of gas via the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, remained at zero on Tuesday after Russia scrapped a Saturday deadline to resume flows following maintenance.
2022, August, 8, 12:10:00
SAUDI, CHINA COOPERATION
The areas of potential cooperation include upstream and downstream businesses, engineering and construction, oilfield services, carbon capture and hydrogen.
