Posted by meb at March 19th, 2007

Turkey has some of the cheapest natural gas and electricity prices among European countries, Energy and Natural Resources Minister Hilmi Güler said, adding that the inexpensive utilities are serving as a draw to investors. Güler was speaking to a meeting of businessmen in Denizli on Saturday that explored policy, developments and possibilities for the future in the energy sector. “Sweden, Germany, the United Kingdom and Austria are using the most expensive electricity and natural gas among European Union countries. Lithuania, Bulgaria, Latvia and Estonia are countries with cheaper natural gas because they are closer to Russia and are buying under old agreements,” said Güler, adding that Turkey’s current contracts enabled the low-cost purchase of natural gas and electricity. The energy minister noted that investors who used to prefer Bulgaria and Romania now are flocking to Turkey due to its low gas and electric price structure. “There is now $20 billion of foreign capital in Turkey, and if our electricity and natural gas were not cheap they wouldn’t be coming here.”Güler made reference to a $20 billion project envisioning turbines for energy production on Turkey’s rivers, saying that it would open up new markets.

source: Today’s Zaman

Related posts:

  1. US company applies for Black Sea oil exploration permit
  2. Turkey to build natural gas plant in Turkmenistan, says minister
  3. Natural gas negotiations continue between Turkey, Iran
  4. Nuclear power plants bill passed in Parliamentary Commission
  5. Turkey expensive for cars, cheap for hotels