Turkey Financial News

Posted by meb at November 17th, 2008

Negotiations over the renewal of natural gas purchase agreements are continuing between Iranian and Turkish delegates, and the signing of a memorandum of understanding is only a matter of time, officials have said.

Turkish Energy and Natural Resources Minister Hilmi Güler and Iranian Petroleum Minister Qolam Hosein Nozari, each supported by a group of bureaucrats, are currently conducting talks toward an agreement in Tehran.

Speaking after a session of negotiations, Güler told a group of reporters that Turkey is planning to increase the amount of gas it purchases from Iran not only for Turkish needs, but also for European consumers. Iran’s gas resources will be exported to European customers through pipelines across Turkey. He noted that Turkey currently imports 27 million cubic meters of natural gas from Iran daily, adding that the new deal will ensure the flow of 23 million more once it is agreed by both parties. (more…)

Posted by meb at September 2nd, 2008

Russia and Uzbekistan agreed on Tuesday to build a new pipeline to carry gas from Turkmenistan through Uzbekistan to Russia, Russian Prime Minister Vladimir Putin said, quoted by news agencies.

“An agreement has been reached on starting practical joint work on building a new gas pipeline system on Uzbek territory to ensure the growing export potential of Turkmenistan and Uzbekistan itself,” Putin said on a trip to the Uzbek capital Tashkent, quoted by RIA Novosti.

Putin gave no immediate details about the pipeline plan.

However Uzbek President Islam Karimov said a new pipeline was needed to handle extra supplies from Turkmenistan and would run alongside two Soviet-era pipelines that cross Turkmenistan, Uzbekistan and Kazakhstan before reaching Russia. (more…)

Posted by meb at July 1st, 2008

Turkey and Iran have launched a new round of negotiations on a project to build an additional pipeline to carry natural gas to Europe, Iran’s state-run gas company has said.
The new pipeline would reach Iran’s border province of Bazargan from the country’s South Pars oil fields, the National Iranian Gas Company (NIGC) said, citing Iranian Oil Minister Qolam Hosain Nozari. Turkey and Iran have also been holding separate talks for the construction and operation of two natural gas extraction facilities in the South Pars region. (more…)