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

Turkey and the Turkish Republic of Northern Cyprus (TRNC) signed energy protocol that foresees the construction of an undersea electricity cable link between the two countries. The work will start as soon as possible, hoping to be finalized by 2017.

The Russian Energy Minister, Alexander Novak, and his Turkish counterpart, Berat Albayrak, signed a bilateral agreement in order to build the TurkStream undersea gas pipeline.