Türkiye wants to establish a more extensive trade hub in which not only natural gas but also electricity and minerals are exchanged, Turkish Energy Minister Alparslan Bayraktar told Anadolu on Thursday.
To achieve this, he explained that Türkiye wants to establish a larger trade center for natural gas, electricity and minerals at the Istanbul Financial Center. He called on other countries to endorse this aim to ensure secure energy supplies.
Such a goal would necessitate capitalizing on existing energy relationships, with Russia serving as an example.
Bayraktar explained that the bilateral energy cooperation between Türkiye and Russia is not limited to natural gas but encompasses nuclear power, oil, oil products and coal.
'Russian companies and Russia have a great track record of being a trustworthy supplier to Türkiye,' Bayraktar said, referring to the almost 40-year history of economic collaboration, particularly in natural gas.
“Türkiye also plays a significant role in Russia's efforts to develop a stable and expanding market and, hence, the ongoing, long-term collaboration between us,' Bayraktar said in Moscow during the 6th Russian Energy Week International Forum.
Russian President Vladimir Putin also echoed the aim to expand energy cooperation and the realization of a natural gas hub project with Türkiye during his speech at the Russian Energy Week, which resulted in a mutual agreement on a roadmap to achieve these aims.
Talks to this effect are taking place with Russian energy company Gazprom, and collaboration with Russia on various energy-related fields will continue, Bayraktar confirmed.
Bilateral energy cooperation has extended to nuclear power and to the Turkish-Russian collaboration to build Türkiye’s first nuclear power plant, the Akkuyu Nuclear Power Plant, which Bayraktar said was one of the largest among the nuclear plants currently under construction.
In April, nuclear fuel was delivered to the Akkuyu site, granting it international nuclear facility status, Bayraktar explained, adding that “now, we are awaiting the day when we will produce electricity from the first reactor.'
Reporting by Emre Gurkan Abay
Writing by Sibel Morrow
Anadolu Agency
energy@aa.com.tr