6/28/2018
BOTAŞ’s Tuz Gölü (Salt Lake) Underground Natural Gas Storage Capacity Increase Project
Loan agreements worth $1.2 billion in total were signed with the World Bank and Asian Infrastructure and Investment Bank
Minister of Energy Berat Albayrak: "It will be an important source of funding for Turkey thanks to its repayment conditions, reasonable cost and low interest. We commissioned the first phase of Tuz Gölü Natural Gas Storage Plant with 500 million cubic meters of capacity last year. I hope that we will make an intensive effort to increase the capacity gradually and achieve a capacity of 5.4 billion cubic meters by 2023."
$1.2 billion loan agreements with the World Bank and Asian Infrastructure and Investment Bank for Tuz Gölü (Salt Lake) Underground Natural Gas Storage Plant Capacity Increase Project of Petroleum Pipeline Corp. (BOTAŞ) was signed in a ceremony attended by Berat Albayrak, the Minister of Energy and Natural Resources on June 27, 2018. In his statement at the signature ceremony, Berat Albayrak, the Minister of Energy and Natural Resources, said: "It will be an important source of funding for Turkey thanks to its repayment conditions, reasonable cost and low interest. We commissioned the first phase of Tuz Gölü (Salt Lake) Natural Gas Storage Plant with 500 million cubic meters of capacity last year. I hope that we will make an intensive effort to increase the capacity gradually and achieve a capacity of 5.4 billion cubic meters by 2023. We will achieve our storage objective of 10 billion cubic meters with the extension of Silivri natural gas storage plant." Albayrak: "We are heading towards our objective of becoming a regional center of natural gas with our LNG terminals" Albayrak said: "With the Trans-Anatolian Natural Gas Pipeline Project, TurkStream and floating LNG storage and regasification unit projects, natural gas storage investments and LNG terminals, we are heading towards our objective of becoming a regional center of natural gas." Albayrak: "Turkey is now advancing into the future with predictable policies. Both investors and international funders know this very well: Turkey has a bright future. We are determined to take every step that will sustain growth from export to employment and investments. We have drawn the road map of a multi-dimensional transformation in economy. Energy is a primary field among them. We have laid the foundation of a technology- and efficiency-based infrastructure that will promote Turkey to the upper division in energy. We have declared the National Energy and Mining Policy as the future vision of Turkey in energy. Who is appointed does not matter any more. Based on the principle of continuity in government organizations, we have a comprehensive road map that will allow us to attain our goals. Turkey is getting institutionalized. It will have a structure that is independent of individuals. Continuity of the vision, projects and investments, rather than individuals, is the case now." As can be remembered, we reported that 6 qualifying companies and joint ventures had been sent technical specifications in the tender for construction of the project, and the bids would be received by August 15, 2018 TEBA:1869/ May 30, 2018. As it is known, the bidders would be allowed to apply to BOTAŞ for pre-qualification for the consultancy and inspection tender for the Project by June 26,2018 TEBA:1868/ May 24, 2018. BOTAŞ has not made a statement about the applications yet.
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