Engie to Establish Gas, Power Hub in Istanbul

Engie to Establish Gas, Power Hub in Istanbul

The Global Energy Management (GEM) division of France’s Engie plans to establish a gas and power trading platform in Istanbul, Turkey, Hurriyet Daily News reported.

According to a written statement issue by the company in late December, Engie wants to optimize supply and market access in order to increase the competitiveness of its facilities in Turkey as well as provide energy risk management services with a view to supporting the electricity plants and gas sales teams, according to Daily Sabah.

This comes as one of Engie Group’s Floating liquified natural gas (LNG) Storage and Re-gasification Unit’s (FSRU) called “Neptune” was inaugurated at the Etki LNG Terminal in the Aliağa district of the Aegean province of İzmir as Turkey’s first FSRU. Neptune has a capacity of 145,000 cubic meters and will serve as an LNG receiving and storage facility and will deliver natural gas in gaseous form. Furthermore, Engie has established commercial relations with Turkey’s Petroleum Pipeline Corporation (BOTAS) over spot cargoes in recent years. One of the contracted spot cargoes of Engie was directed to Turkey as negotiations with BOTAS over medium-term sales opportunities continued.

Engie CEO and Country Representative, Denis Lohest, said the company’s strategy in Turkey was “to develop projects to increase the company’s production capacity with a special focus on renewable energy sources, also participating to the tenders in progress, provide energy together with services like energy efficiency, operations and maintenance and facility management.”


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password