Türkiye seeks cooperation with countries to become energy hub: Minister

ANKARA

Türkiye is seeking more cooperation with Saudi Arabia and other countries as it plans to be an energy hub to Europe, Treasury and Finance Minister Nureddin Nebati has told Arab News in an interview.

Türkiye from its geographical position is an energy corridor from Russia, Iran, and Saudi Arabia, Nebati said, adding that any kind of natural gas or oil that is going to be transported or shipped will cost less and will be more safely shipped.

Speaking on the sideline of the 6th edition of the Future Investment Initiative forum in Riyadh, Nebati didn’t elaborate further on how the two countries might cooperate but said that peace in the region will bring energy costs down.

“Türkiye and Saudi Arabia are also assisting each other, which will bring peace to the region. That peace will bring more affordable gas prices, the energy prices, and will allow both countries to look ahead,” the minister said.

European countries are dependent on Russian gas and will be passing winter with huge stress, Nebati noted. “This is obvious, and new steps and new structuring need to be taken.”

“And this is why our President [Recep Tayyip] Erdoğan said that Türkiye, which will become a hub, should take the needed measures for the distribution of Iran gas or Russian gas to Europe. And that will contribute to the establishment of peace in the region and create an environment that is safe for this shipment,” Nebati said, adding that this will lead to the solution of the high prices, which is putting the world in front of recession.

Russian President Vladimir Putin said on Oct. 12 that Russia could increase the capacity of its gas exports to Türkiye and eventually turn into a hub for gas supplies to Europe.

Nebati said that Türkiye is trying to expand economic cooperation with Saudi Arabia, which will benefit the region.
“In the incoming period, the cooperation between Saudi Arabia and Türkiye will trigger, of course, new cooperation areas, and with the vision of Saudi Arabia and Türkiye’s 2023 vision, we will step out to a new century and will contribute to bringing peace and prosperity in the region.”