A salt formation gas storage facility beneath a salt lake in central Anatolia will open in 2017 as an important step to improve the country's energy security, according to a statement from Turkey's energy ministry Thursday.
Petroleum Pipeline Corporation (BOTAS) is still constructing the storage facility which commenced in 2011, and which expects to be fully operational by 2019. The facility will have a capacity of nearly 1 billion cubic meters in 12 separate stores, six of which will be ready in 2017.
The project, of which 60 percent has been completed, will cost over $340 million.
Underground salt caverns are very effective for natural gas storage and have been widely used in European countries as salt formations act as secure storage preventing gas leakages.
Developing gas storage capacity will help to cope with sudden peaks in demand especially in harsh weather conditions while guaranteeing gas supplies in the market even under unforeseen circumstances like cuts or delays in gas imports.
In Ernst & Young's recently published report, recommendations were made for Turkey to take the necessary measures to develop storage systems in order to attract investors to its gas sector.
Turkey has two other operational gas storages with a total capacity of 4.1 billion cubic meters, according to Gas Infrastructure Europe (GIE) and plans to add one other in the province of Mersin in southern Turkey.
Germany is leading the sector and Europe's gas storage capacity including that of Turkey's ongoing Salt Lake project, is expected to exceed 25 billion cubic meters in next decade.
Turkey imports around 98 percent of its natural gas mainly from Russia and Iran.
Reporting By Nuran Erkul, Writing By Furkan Naci Top
Anadolu Agency
nuran.erkul@aa.com.tr