Minister Dönmez: If prices continue to decline, there may be a reduction in March.

Minister of ENERGY and Natural Resources Fatih Donmez“Our large industrial establishments that buy electricity from the free market will have benefited from a reduction of up to 15 percent in their costs. If the decline in prices continues, there may be a reduction in March.” said.

Turkey‘s energy investments in recent years and their results will be evaluated. Turkey Century The summit started today. BesiktasFatih Dönmez, Minister of Energy and Natural Resources, also attended the summit held in a hotel in Istanbul. In addition to Minister Dönmez, many representatives from the energy sector attended the summit. Minister Dönmez, who made the opening speech of the summit, also gave the good news that there could be a discount in natural gas and electricity.

Dönmez said: “Currently, our BOTAŞ General Manager and his delegation are in Oman. We are signing a new gas purchase agreement with Oman. We will supply 1.4 billion cubic meters of gas annually from Oman and our agreement will be valid for 10 years. We also have the opportunity. Turkey is taking all steps to become a gas trade center at a time when the world, especially Europe, is suffering from gas supply problems,” he said.

“BLACK SEA GAS IS LARGE TO MEET OUR NEED FOR 30 YEARS WITH ITS CURRENT RESERVE” Stating that many of Turkey’s gangrenous issues have been resolved, Minister Dönmez said, “In addition to conventional power plants, we have also included SMRs, that is, small and medium-sized nuclear power plants on our agenda. Our friends are now on the regulation. Of course, these power plants have relatively lower costs, faster construction processes, and of course, their mobility makes it easier to be built quickly where needed. Black Sea gas, with its current reserves, is large enough to meet our needs for approximately 30 years. With new discoveries, I hope this period will be longer. Natural gas transmission, distribution and storage works take at least 50 years or more. “We think long-term, not short-term,” he said.

Emphasizing that the century of Turkey will be the century of independence in energy, Minister Dönmez said, “I hope the first phase of the Black Sea gas will be put into operation in March. “It means that Turkey’s gas imports will decrease by a quarter. With new discoveries, this rate will improve. This means that Turkey’s hand will be stronger when negotiating gas. Our foreign dependency ratio for natural gas is 99 percent. Black Sea gas will alleviate this burden over time, I hope.” “We have lowered 33 of the 42 units that will be placed on the seabed in the Black Sea,” he said.

“WE HAVE COMPLETED THE DRILLING OF ALL THE WELLS REQUIRED FOR PHASE 1” Minister Dönmez said, “We have completed 90 percent of the construction of our Natural Gas Processing Facility, which will process the gas coming from the sea on land. We have also started the functional tests required for the commissioning of the facility. Our Fatih Drilling Ship completed its drilling in Türkali-11 well, so we completed the drilling of all the wells required for Phase 1. Yavuz completed the top completion in Türkali-5 well, and Kanuni recently lowered in Türkali-10 well. “We will complete the completion operations. After the discovery in the Çaycuma-1 well, we will have new drilling activities in that region as well. We are planning these drillings in other similar geological fields adjacent to the region. We hope to give new good news to our nation from there,” he said.

“There MAY BE A DISCOUNT IN MARCH” Minister Dönmez said, “As these good news continue and the price volatility in the world begins to decrease, we will reflect these to our citizens as a discount. Last week, we made a discount between 13 and 16 percent for the natural gas used by the industry. Since November 2022 There was a total reduction of 24 to 38 percent in the natural gas used by the industry. We expect this to lead to a reduction in production costs first and ultimately in inflation. Another discount came from electricity. The electricity ceiling price in the free market will be reduced by 2021. DecemberIn , we determined it as 4 thousand 800 liras, per megawatt. It was reduced to 4 thousand 200 liras. Last week, with a new regulation, we reduced the ceiling price from 4 thousand 200 liras to 3 thousand 600 liras. Thus, they will benefit from a reduction of up to 15 percent in the costs of our large industrial establishments that purchase electricity from the free market. If prices continue to decline, there may be a reduction in March,” he said.

“THE THIRD FSRU SHIP WILL BE IN OUR COUNTRY IN 1 WEEK” Minister Dönmez said, “We have been experiencing important developments in natural gas, not only in production but also in FSRU and natural gas exports. Our third FSRU ship will also arrive. I hope it will be in our country in a week. . We will anchor our ship there to use it at our Saros FSRU terminal. Hopefully, we will put Turkey’s new FSRU ship into service with the participation of our President. With Saros FSRU, we will provide a new entry point to the Thrace region, where consumption is high. More importantly, in line with our gas trade center target first Balkans We will be a more active player in the regional gas trade, especially in the region,” he said. Bulgaria Minister Dönmez reminded that they signed an annual gas supply agreement with approximately 1.5 billion cubic meters of gas until 2035, adding, “This capacity corresponds to approximately 30 percent of Bulgaria’s annual gas consumption. In addition to Bulgaria, North Macedonia, Romania ve Moldova We carry out similar processes with We have negotiated many issues such as gas supply and engineering and services to increase the transmission capacities of countries. Our talks continue. I can say that we have the potential to increase natural gas supply to the countries of the region up to 3 times in a very short time with new investments.”

“WE ARE SIGNING A NEW GAS PURCHASING AGREEMENT WITH OMAN” Minister Dönmez said, “Currently, our BOTAŞ General Manager and his delegation are in Oman. We are signing a new gas purchase agreement with Oman. We will supply 1.4 billion cubic meters of gas annually from Oman, and our agreement is for 10 years. We have the opportunity to extend the agreement if the appropriate conditions arise again. In a period when the world, especially Europe, is suffering from gas supply problems, Turkey is taking all steps to become a gas trade center. In 20 years, domestic gas in the natural gas field, natural gas storage, “We have implemented investments that will make us a gas trade center, such as LNG, FSRU, international pipelines, the organized wholesale natural gas sales market. If we make a comparison, the Turkish gas market will have a structure with many different options like a big supermarket in the coming period,” he said.

Minister Donmez, İstanbulThey will organize Istanbul Gas Summit on 14-15 February in Middle East, MediterrenianHazar and Middle AsiaHe stated that they will bring together the source countries of Turkey and the consumer countries of Europe.

– Karakose

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