World Bulletin / News Desk
Turkey's energy minister has deemed Saturday that delivering natural gas from Southern Cyprus via Egypt was not feasible.
Leaders from Egypt, Greece and the Greek Cypriot administration gathered on Wednesday and talked about the possibility of delivering Southern Cyprus's natural gas via Egypt.
"It is said that they will bring the gas to Egypt as liquefied natural gas, LNG," said Taner Yildiz, Turkey's Energy and Natural Resources Minister, during a breakfast organized for the economy journalists in Kayseri, a province in the Central Anatolia of Turkey. "When declining oil prices and high cost of LNG are taken into consideration, I do not find this decision feasible for them. This decision represents only a political obstinacy."
He said that delivering gas through Egypt would be a decision purposefully taken so as not to pass the natural gas via Turkey.
Taner Yildiz also talked about his recent visit to Turkmenistan on Friday.
"We signed a declaration on Friday," said Yildiz. "Turkmenistan's natural gas will pass through the Caspian either by being connected to Trans Anatolian Natural Gas Pipeline, TANAP, or via another line to Europe. An amount of 30 billion cubic meters may go to Europe via Turkey after 2020."
Turkey currently buys natural gas from six countries and oil from eleven countries.
In a statement, it said this reduction in the tax burden would however lead to a slower drop in the public deficit this year, which it predicts will reach 2.5 percent of GDP -- still below the 3.0 percent limit set by the European Union.
Ryanair said it has agreed to pay the sum for a majority 75-percent holding in Vienna-based LaudaMotion from the former Formula One motor racing champion.
The tech-rich Nasdaq Composite Index dropped 1.8 percent to close at 7,344.24.
CPI’s 12-month rate in February fell from 3 percent, official data reveals
Cement exports have gone up 6.9 percent to reach around 8 million tons, year-on-year, in 2017
BIST 100 rises 0.51 pct; USD/TRY exchange rate drops and EUR/TRY exchange rate stays
Of the major indices, Facebook weighed most heavily on the tech-rich Nasdaq Composite Index, which was down 0.9 percent to 7,411.34 about 20 minutes into trading.
Company to release new commercial and defense products, head of company says
EA19's exports and imports rise 9.1 percent and 6.3 percent, respectively, year-on-year in January
Micro Focus warned in a statement that year-on-year revenues had fallen by more than anticipated since January, sending its shares slumping 55.88 percent to 831.40 pence.
Economy minister: Ankara 'absolutely' against Russia's limit on number of companies importing Turkish tomatoes
Turkey's assets abroad climb 2.1 pct at end of January 2018, compared with end-2017, according to Turkish Central Bank
BIST 100 opens 0.04 pct lower, Turkish lira loses value against foreign currencies
Listed shares in BIST 100 rise 0.01 percent; US dollar/Turkish lira rate climbs over 3.90; EUR/TRY stands at 4.80
Turkey bridges Muslim world and West, according to General Council for Islamic Banks and Financial Institutions
Britain intends to seek free trade deals with its major trading partners once it leaves the EU, as planned, in March 2019.