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Turkey plans to increase gas storage and implement FSRU

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LNG Industry,

According to Reuters, the Turkish energy minister, Berat Albayrak, has said that the country is on track to become a major hub for energy trading, especially for natural gas.

In particular, Albayrak reportedly said that plans were being accelerated for additional gas storage, as well as for a floating storage regasification unit (FSRU) for LNG. Turkey is planning to bring the first phase of new storage facilities near Ankara online by January 2017, and upgrades for existing storage facilities are scheduled for completion from 2019 onwards.

Reuters reports that the minister said: “Following the latest measures, the storage capacity will increase to 10 million m3.”

In addition to this, the energy minister reportedly said Turkey is expecting the first unit of the country’s planned US$20 billion Akkuyu nuclear power plant – which is being built in cooperation with Russia – to come online by the end of 2023. Albayrak also added that the country is planning to drill a deepwater oil well in the western part of the Black Sea in 2018.

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