Turkey’s Deputy Energy and Natural Resources Minister Alparslan Bayraktar told reporters in Dubai Tuesday there had been talks with the UAE about investment in Turkish energy projects.
Bayraktar was in Dubai to attend the Gastech 2021 conference, the world’s largest gas expo, as energy officials and hundreds of executives gathered for the industry’s 1st in-person conference since the pandemic began.
Turkey is set to witness a significant rise in natural gas demand this year, amid a record spike in gas prices around the world due to higher demand and lower stocks.
- Turkey’s natural gas demand will reach around 60 billion cubic meters (bcm) this year, a noteworthy rise from 45 bcm to 50 bcm that the country consumes on average each year and for which it pays between $12 billion and $15 billion
Bayraktar was cited as saying that Turkey was discussing new contracts with several gas companies, including Russian Gazprom.
Yet, he said soaring natural gas prices would be challenging.