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Turkish state-run Botas has said that it supports the Nabucco pipeline, despite the project being rocked by doubts in recent weeks. Speaking to Bloomberg via email today, director of strategy and business development for Botas Levent Ozgul said his company fully backed the Nabucco project.
Ukrainian Prime Minister Mykola Azarov has said that his country is ready and open to participate in the Trans Anatolian pipeline project, in a financial and technical capacity. At a meeting with Turkish Deputy Prime Minister Ali Babacan today, the prime minister said that Ukraine wished to "both make...
The Eastern Mediterranean is set to become a key exporter of gas to Europe with Cyprus at the forefront, a Cypriot minister has said. In an interview with Platts news agency, Cypriot Foreign Minister Erato Kozakou-Marcoullis said that the potential for energy from the region was massive. "There...
The Turkish government expects to ratify a Memorandum of Understanding (MoU) signed with Azerbaijan later this week, an official has said. Speaking to the Trend news agency, a spokesperson from the Turkish Grand National Assembly said the deal, which was signed last December, will be ratified shortly.
Tensions between Cyprus and Turkey continue to flare as the Turkish government has granted approval to TPAO to explore for gas offshore areas in Cyprus's Exclusive Economic Zones. The relationship between Turkey and Cyprus has historically been strained, due to Turkey's former occupation of Cyprus and...
Turkey's Deputy Prime Minister Ali Babacan has warned that political conflict in Iraq may affect that country's supply of gas to the Nabucco pipeline. Speaking on Saturday, Minister Babacan said that turmoil in government in Iraq may threaten Europe's energy security in the future. "The split that...
Turkish Minister for Energy Taner Yildiz has said that the country will increase its natural gas imports from Iraq in exchange for the supply of electricity from Turkey to Iraq. Speaking to reporters in Ankara, Minister Yildiz said the electricity sold to Iraq would come from a power station close to...
Leaked figures on the cost of Turkey’s gas imports, and sharp hikes in domestic electricity and gas prices, have refocused attention on the country’s energy strategy. With economic growth beginning to slow, the high price of imports may become an increasing burden. Analysis of the leaked...
The final ownership agreement of the $6 billion Trans-Anatolian Pipeline (TANAP) has been put on hold as Turkey and Azerbaijan continue wrangling over who gets what. Currently SOCAR would hold an 80-percent stake in the project, and the two Turkish state-owned companies -- BOTAS (Petroleum Pipeline Corporation)...
On matters of energy security, Turkey is finding itself caught between Iran and the United States, two countries Ankara describes as allies. The tension is especially evident when it comes to oil. Ankara seems willing to go along with US efforts to increase economic pressure on Iran, evidenced by Turkish...