Turkish Energy Thread

[Attila the Hun]

I don't think we have a thread for energy in Turkiye. If I am wrong, feel free to lock this thread or delete.
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Turkish Petroleum deal sealed as largest privatization transaction of 2016

The number of filling stations belonging to the Turkuaz Petrol oil company has soared to 700 after it purchased the state-owned Turkish Petroleum Corporation (TP), which consists of more than 400 filling stations. The sale has been tagged as the largest privatization transaction of 2016.

Placing the highest bid of TL 490 million ($137.73 million) during the TP privatization tender, Turkuaz Petrol, a subsidiary of Zülfikarlar Holding, purchased 100 percent of TP - now named the largest privatization transaction of 2016. The signing ceremony was attended by Finance Minister Naci Ağbal, Privatization Administration Chairman Ahmet Aksu, Zülfikarlar Holding CEO İsfendiyar Zülfikarı and Turkuaz Petrol General Manager Çağdaş Demirağ.

As a result of the privatization, more than 400 filling stations, seven fuel storage facilities, 333,000 cubic meters of fuel storage capacity and two liquefied petroleum gas (LPG) filling stations were transferred to Turkuaz Petrol.

Zülfikari said Zülfikarlar Holding has been working to contribute to the Turkish economy for 75 years, adding: "Our business life, which started with the trade of chemicals, continued with the investments we made in the fields of finance, fuel distribution and renewable energy. We have been working with the goal of being ‘the best' in all of the sectors we have been operating in since we founded our company."

Stressing that the purchase of TP is of great importance for the company, Zülfikari stated that they are consolidating their experiences with new purchases and taking firm steps to become the industry's leading brand.

Finance Minister Naci Ağbal congratulated Zülfikarlar Holding for winning the tender, saying that the privatization process of TP for two years was completed and that the state has now completely withdrawn from the fuel sector after this privatization transaction. Underlining that the state must withdraw from some sectors not only to generate revenue, but also to develop the market economy and to allow competition to run properly, the minister said, "We believe that the privatization of TP will make a significant contribution to the fuel distribution sector and will boost the competitive power and service quality of Turkuaz Petrol."

https://www.dailysabah.com/energy/2...-as-largest-privatization-transaction-of-2016

 

[Seyfullah]

https://twitter.com/x/status/860440017398669313

 

[Attila the Hun]

Gazprom starts construction of Turkish Stream gas pipeline to Turkey

Russian gas firm Gazprom said on May 7 that construction had begun for a gas pipeline under the Black Sea to Turkey, which is meant to eventually also serve the European Union.

“Construction of the TurkStream gas pipeline began in the Black Sea near the Russian coast,” Gazprom said in a statement.

“Implementation of the project is on schedule and our Turkish and European customers will from the end of 2019 have a reliable new route for importing Russian gas,” said Gazprom’s chief executive Alexei Miller in the statement.

Russia first floated the project in 2014 after the EU blocked plans for a pipeline under the Black Sea to Bulgaria at the height of the Ukraine crisis.

A diplomatic crisis following the shooting down of a Russian bomber overflying the Turkish-Syrian border delayed the project, which was revived when bilateral relations were mended last year.

Two lines capable of carrying 15.75 billion cubic meters of gas per year each will be built.

With Turkish Stream, Russia aims to not only reinforce its capacity to deliver gas to Turkey, but to also make it a transit country in place of Ukraine, even if the prospects of that are uncertain given the EU’s hostility toward new Russian pipelines.

http://www.hurriyetdailynews.com/ga...key-.aspx?pageID=238&nID=112837&NewsCatID=348

 

[Attila the Hun]

IFC, FMO invest in Finans Leasing to help boost energy efficiency in Turkey

The International Finance Corporation (IFC), a member of the World Bank Group, and the Dutch Entrepreneurial Development Bank (FMO) are providing a long-term loan to Finans Leasing, a leading Turkish leasing company and a subsidiary of QNB Finansbank, the institutions said in a press release on May 4.

The financing will allow Finans Leasing to boost lending to small and medium enterprises (SMEs) across Turkey, helping them invest in eco-friendly projects, cut production costs and protect the environment, the statement read.

IFC is extending a five-year loan in the Turkish Lira, which is equivalent to $50 million, to Finans Leasing. The FMO is providing an additional loan in liras, equivalent to $35 million.

“The financing will support Finans Leasing’s sustainable energy program, which provides businesses with energy-efficient equipment and machinery, supports production line upgrades and promotes renewable energy. Finans Leasing plans to increase its energy efficiency lending by 35 percent in the next three years,” it said.

“Working once again with our strategic partner IFC, with the participation of FMO, we aim to finance the energy efficient investments of our SME clients that want to increase their productivity while decreasing their costs. While our customers benefit from long-term funding in local currency, the financing also helps preserve the natural resources of our country,” Metin Karabiber, the general manager of Finans Leasing, said.

http://www.hurriyetdailynews.com/if...rkey.aspx?pageID=238&nID=112717&NewsCatID=346

I love Nazi Holland!

 

[Attila the Hun]

Gazprom starts Turk Stream construction

Gazprom has decided to begin construction of the offshore section of the Turkish Stream pipeline, said the head of Gazprom. "We made the decision at Gazprom on the beginning of construction of the offshore section of the Turk Stream pipeline," Alexei Miller, Gazprom chairman, said during a televised interview with Russia's Rossiya 24 TV.

In December 2014, Russia's Vladimir Putin announced the scrapping of the South Stream pipeline project due to a disagreement between Moscow and the European Union countries. Putin proposed a new route to deliver the gas to Europe through Turkey that was dubbed the "Turk Stream."

The 1,100-km Turkish Stream is to deliver 63 billion cubic meters of natural gas per year through four parallel lines. An estimated 47 billion cubic meters will reach the Greek-Turkish border. The remaining 16 billion cubic meters of gas are to be allocated for Turkey's domestic use. Russia currently sends natural gas to Turkey via the Blue Stream and Trans-Balkan pipelines.

Turkish official sources told Anadolu Agency that Gazprom had only started building one of the four lines that will carry the 16 billion cubic meters of gas for Turkey's domestic consumption, which will replace the 14 billion cubic meters of gas Turkey receives via the Trans-Balkan pipelines.

They added that the company has not yet begun the construction of the other three lines, which will carry Russian gas to Europe. They did not say when the construction of these lines would start.

Gas price discount

"There is a preliminary agreement, which has not been adjusted yet. Now we have a common vision of the discount formula (for natural gas imports) with our Turkish partners, I think that soon we definitively will sign this agreement," said Miller.

Turkey's Petroleum Pipeline Corporation, BOTAS, the main Turkish importer of Russian gas, previously asked for a discount from Gazprom on the sale of natural gas in late 2014. Gazprom announced that the company was working on a detailed price package in line with the discount request from Turkey.

However ongoing negotiations have not produced an agreement despite the Turkish energy minister announcing a 10.25 percent discount was imminent in early 2015.

https://www.dailysabah.com/energy/2017/05/09/gazprom-starts-turk-stream-construction

 

[Attila the Hun]

Turkey set to become leader in geothermal energy, pioneers global development

Although global geothermal energy is experiencing continuous growth in installed power generation capacity, Turkey is the trailblazer in this sector's development, according to ThinkGeoEnergy on Thursday.

Turkey, with the addition of over 800 megawatts (MW) in various stages of development, is on track to be a world leader. The country generates more geothermal energy than key markets such as New Zealand, Italy, and Mexico.

Alexander Richter, the principal of ThinkGeoEnergy, an Iceland-based geothermal-focused advisory firm, said that Turkey ranked seventh with an installed capacity of 858 MW.

"Turkey was ranked 14th on the list of countries with installed geothermal power generation capacity back in 2008. Making great progress, the country has now moved up, according to figures by JESDER, the Geothermal Power Plant Operators Association of Turkey," Richter told Anadolu Agency.

Turkey's energy demand has been, and continues to be strong, he added. The country's strategy to supply most of its energy needs from domestic resources such as solar, wind, geothermal and hydro, have been supported with government initiatives and subsidies.

The government initiated various incentives to encourage power generation using national resources. This was the stimulus needed to greatly expand geothermal resources in western Turkey.

Turkey is now able to tap into a local, natural resource that provides them with clean and sustainable energy, independent from imports and price fluctuations, Richter said.

The country instituted a progressive and favorable feed-in-tariff mechanism, along with financial support from institutions such as the World Bank, World Bank member International Finance Corporation and the European Bank for Reconstruction and Development.

Over the last decade, the growth in Turkey's natural gas and energy demand was second only to China. The country is geographically located in close proximity to more than 70 percent of the world's proven oil and gas reserves.

Additionally, the country offers major East-West corridors within the region. Turkish Renewable Energy Resources Support Mechanism offers a feed-in tariff of $0.073 per kilowatt-hour (kWh) for wind and hydropower projects, $0.105 for geothermal facilities and $0.133 for solar energy and biomass geothermal plants.

The tariffs are currently available for renewable energy projects that will be operational at the latest by year-end 2020.

This allowed the country to be able to push for faster development of geothermal projects compared to geothermal development in other countries.

"A favorable legal framework, with support from Turkish banks, in conjunction with the aforementioned funding from the World Bank and EBRD, enabled Turkish developers to drive rapid and continuous progress for the past 8-10 years," Richter said.

He also stated that the World Bank had created an additional incentive for development through a $290 million funding package intended specifically for geothermal development. This money is designated for Turkish banks so that they may offer competitive loans that will encourage further exploration and expansion of geothermal energy. This support is set to strengthen the international position of Turkey's geothermal industry.

At a geothermal workshop, which plans to take place at the IGC Turkey - International Geothermal Conference - in Izmir starting May 22, the World Bank will present the key elements of its support to Turkey's geothermal sector, the risk sharing mechanism for resource confirmation and loan facilities for resource development.

https://www.dailysabah.com/energy/2...geothermal-energy-pioneers-global-development