Iran continues to supply gas to T眉rkiye despite regional tensions, said Energy and Natural Resources Minister Alparslan Bayraktar on Thursday.
Speaking at "The Global Energy Market: Seeking a Balance between Producer and Consumer Interest" panel in St Petersburg, Bayraktar addressed the risks posed by Israel-Iran tensions to energy supply.
The situation underscores the urgent need for diversified and secure energy routes, he said.
"Iran is one of the major gas suppliers for the Turkish market. It used to be one of the major oil suppliers to the Turkish market, but currently they are supplying gas to T眉rkiye," Bayraktar said.
T眉rkiye expects this gas supply to "continue over the next years and decades to come because we need this gas," he added.
Noting that T眉rkiye is a growing gas market, Bayraktar said: "Our demand will most likely reach 60 billion cubic meters (bcm) this year, and 60 bcm is quite large."
"We are the number four gas-consuming country in Europe," he added. "So to supply this gas to the Turkish market, we need additional volumes. That's why we are investing in the regasification capacity increase but also we need to have our existing pipeline gas suppliers such as Russia's Gazprom and also Iran and Azerbaijan."
"We are also supporting any corridor projects that will bring gas from Turkmenistan to T眉rkiye and maybe to get to European markets as well," he added.
Heightened tensions between Israel and Iran have triggered fluctuations in global energy markets.
Reporting by Emre Gurkan Abay in St. Petersburg
Writing by Handan Kazanci
Anadolu Agency
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