As much as the action in the international energy markets, 2018 has witnessed major developments in the Turkish energy industry. The initiation of drilling operations in the Mediterranean with Turkey’s first drillship Fatih, the beginning of the construction of the country’s first nuclear power plant, the launch of the Trans-Anatolian Natural Gas Pipeline (TANAP), the inauguration of a new petrochemical facility in the western Turkish province of İzmir, and the operation of the second liquefied natural gas (LNG) floating storage and regasification unit (FSRU) in the Mediterranean, have been the most significant events transforming the Turkish energy sector. All of this has brought the country closer to its goal to increase self-sufficiency in energy as well as instituting a trading hub. The 1,850-kilometer-long TANAP is the largest section of the 3,500 kilometer-long Southern Gas Corridor (SGC) that was officially inaugurated during a ceremony held in Baku on May 29 with the participation of Azerbaijani President Ilham Aliyev. TANAP, with around $8 billion of investment, will deliver 6 billion cubic meters (bcm)from the giant Shah Deniz II field in Azerbaijan to Turkey and 10 billion to Europe per year. The European part of the project is expected to become operational in… Read full this story
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