Acknowledging that Turkey will sit at the table with a stronger hand, Gahramanov said that the price decrease in natural gas depends on many variables, Daily Sabah reported.
Gahramanov said:
- The most effective factor is the increase in supply and the diversification of resources and supply opportunities
- We expect the natural gas cost of Turkey to decrease with the increase and diversification of domestic and renewable resources
Gahramanov continued:
- Just like the discovery of reserves in the Black Sea, the commissioning of new reserves will increase the supply and strengthen Turkey's hand
- All of these are factors that can affect the price change in favor of the consumer
- However it is not possible to make short-term price predictions as the pandemic conditions continue
He said:
- We were planning to establish a new petrochemical plant with BP in order to bring the 2nd Petkim to Turkey with a total of $2 billion investment
- However, when BP decided to exit the petrochemical business, we had to postpone this investment for now
- We are also negotiating with other companies for investment
- the decision for this new investment will be taken in 2022
- We continue our storage investment of $600 million,
- With the completion of our projects in this area, the investment value of STAR Refinery will reach approximately $7 billion