ANKARA, April 8. /TASS/. The Parliament of Turkey commenced the process of introduction of amendments to the legislation, necessary for launching the international gas trade center, Turkish Minister of Energy and Natural Resources Fatih Donmez said in an interview for CNN Turk Saturday. The first legislative decisions in the context of the gas hub have passed through the parliament. Thanks to them, Botas [Turkish oil and gas company TASS] and other companies will be able to operate much faster and easier. Once the gas trade center begins its operation, prices will also fall, which is important for Europe. Turkey will become a market that defines the reference gas price, the Minister said. He also pointed out that the republic is considering options for cooperation with other countries on transportation of gas to Europe. In particular, there are agreements with Azerbaijan to create a joint venture, he said. Donmez noted that Turkey is able to buy about 100 billion cubic meters of gas per year, with 60 billion being consumed domestically, and 40 billion available for export to neighboring states. Ankara plans to use this available volume in trade at the future gas hub. The previous legislation included multiple restrictions in export of natural gas. The Turkish Parliament passed a bill that introduces changes in the Botas structure within the framework of the energy hub project. Private companies will be able to import gas together with Botas. In October 2022, Russian President Vladimir Putin proposed the idea to create a gas in Turkey, which could accept transit volumes, lost after the Nord Stream sabotage. The head of state explained that a new pipeline system could be build, which will deliver gas to a center in Turkey, which will in turn redirect it to third countries, including European ones, if they are interested. Turkey viewed this initiative positively and stated that a significant part of the infrastructure for a gas hub and trade center in Istanbul is ready.

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ANKARA, April 8. /TASS/. The Parliament of Turkey commenced the process of introduction of amendments to the legislation, necessary for launching the international gas trade center, Turkish Minister of Energy and Natural Resources Fatih Donmez said in an interview for CNN Turk Saturday. The first legislative decisions in the context of the gas hub have passed through the parliament. Thanks to them, Botas [Turkish oil and gas company TASS] and other companies will be able to operate much faster and easier. Once the gas trade center begins its operation, prices will also fall, which is important for Europe. Turkey will become a market that defines the reference gas price, the Minister said. He also pointed out that the republic is considering options for cooperation with other countries on transportation of gas to Europe. In particular, there are agreements with Azerbaijan to create a joint venture, he said. Donmez noted that Turkey is able to buy about 100 billion cubic meters of gas per year, with 60 billion being consumed domestically, and 40 billion available for export to neighboring states. Ankara plans to use this available volume in trade at the future gas hub. The previous legislation included multiple restrictions in export of natural gas. The Turkish Parliament passed a bill that introduces changes in the Botas structure within the framework of the energy hub project. Private companies will be able to import gas together with Botas. In October 2022, Russian President Vladimir Putin proposed the idea to create a gas in Turkey, which could accept transit volumes, lost after the Nord Stream sabotage. The head of state explained that a new pipeline system could be build, which will deliver gas to a center in Turkey, which will in turn redirect it to third countries, including European ones, if they are interested. Turkey viewed this initiative positively and stated that a significant part of the infrastructure for a gas hub and trade center in Istanbul is ready.