Business

Turkiye’s natural gas trade steps with Qatar and Oman

Minister of Energy and Natural Resources Donmez spoke about the increases in natural gas and electricity prices on a global scale. “We are doing our best to ensure that our citizens are least affected by global price increases.” He also said that talks on natural gas trade with Qatar and Oman continue.

Energy and Natural Resources Minister Fatih Donmez spoke after the cabinet meeting.

He stated that with the Russia-Ukraine war, natural gas prices increased abnormally all over the world.

Increase in natural gas and electricity prices in the world

Minister Donmez spoke about the increases in natural gas and electricity prices on a global scale.

Fatih Donmez said, “We are doing our best to ensure that our citizens are least affected.” He said that the state support of ₺100 billion in 2021 could double in 2022.

Fatih Donmez continued his words as follows:

“Currently, our government subsidizes 80% in natural gas and 50% in electricity at the first stage. It continues in the same way as at the beginning of the year. Last year, a subsidy cost of around ₺100 billion emerged. This year, that figure could nearly double. We are doing our best to ensure that our citizens are least affected by the global price increases.”

Natural gas trade from Qatar and Oman

Minister Donmez said that Turkiye’s talks on natural gas trade with Qatar and Oman continue.

Donmez said, “We carried out intense energy diplomacy in the last days of August. First, we went to Oman from the Gulf countries. Here after a long time, we contacted about natural gas trade. They also approach positively. We will take action when commercial conditions are appropriate. We have been trading natural gas with Qatar since the past. Qatar and Oman are our friendly and brotherly countries. Negotiations continue. Hopefully we will get a positive result.”

“We have no tolerance for delay in Akkuyu”

Fatih Donmez, Minister of Energy and Natural Resources, also made evaluations about the Akkuyu Nuclear Power Plant, which is under construction.

Dönmez said, “Negotiations regarding Akkuyu are continuing. We have formed a delegation from both Russia and Turkiye to coordinate this work. They held their first meeting and now they will hold their second meeting. Our President is following the process closely. There is no agreement yet. But we reminded both sides that they should act more constructively, with more common sense, and that the project schedule cannot tolerate delays.”

Minister Donmez announced that the foundation of the Ferro Bor facility in Bandırma district of Balıkesir will be laid on 17 September.

Source: Trthaber / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button