Turkish parliament approves changes needed to create gas hub
The Turkish parliament has approved changes to the structure of the state-owned oil and gas company Botas in order to implement the gas hub project. The newspaper Sabah writes about it.
Turkish Minister of Energy and Natural Resources Fatih Donmez announced in early March that the issue of a gas hub proposed by Russia in Turkey would be submitted to parliament for discussion: legislative changes are needed for its implementation.
"The bill passed by the Turkish Grand National Assembly (Parliament) will pave the way for the private sector to import natural gas. The structure of Botas will be changed to turn Turkey into an energy hub," the newspaper writes.
According to the changes, new divisions and companies will be created.
"The subject matter, business name, capital and share capital structure of the companies that will be created for the purpose of unbundling and restructuring the activities of Botas, as well as issues related to the transfer and similar transactions that will be carried out within this framework, will be regulated by a presidential decree," the edition clarifies. It adds that natural gas imports will be liberalized for both Botas and private sector entities. However, these provisions will not apply to imports of liquefied natural gas (LNG) and spot pipeline gas.
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