Turkey to Produce Natural Gas From Shale
Author: milliyet Posted May 22, 2012
“Turkey has approximately two trillion cubic meters of natural gas reserves that could meet national demands for 40-50 years,” said Tamer Akaslan, Trakya (Thrace region west of Istanbul) Regional Director of Gasdas Company. He also said that the Turkish Petroleoum Corporation (TPAO) is working with a foreign partner to produce shale gas after its success in the US.
According to Akaslan, Turkey is about to begin producing gas from shale by taking advantage of rapidly advancing technology. “After the US discovered shale gas, their natural gas prices went down by half. Now we are heading in the same direction. If we succeed, Turkey will become a major power in the global natural gas market,” he added.
Gazdas is planning to invest $300 million and 17 distribution centers are to be constructed in Trakya by 2015, after manufacturing 2,000 km of plastic and 205 km of steel piping. He said that Zorlu Holding, the parent company, aims for $1.5 billion in revenue with 5,000 employees by this time. In the meantime they will increase the number of subscribers in Trakya from 120,000 to 160,000.
Read More: http://www.al-monitor.com/pulse/business/2012/05/natural-gas-to-produced-from-sha.html