Cyprus peace talks offer EU energy opportunity

Economic Development Foundation chairman says EU should begin energy chapter negotiations with Turkey.

Cyprus peace talks offer EU energy opportunity

World Bulletin / News Desk

The resumption of Cyprus peace talks presents an opportunity for the EU to begin negotiating the energy chapter of its accession project with Turkey, an industry meeting in Istanbul has heard.

Economic Development Foundation chairman, Omer Cihad Vardan, was speaking on Monday at the Second Energy Sector Meeting in Istanbul.

Turkish Cypriot and Greek Cypriot representatives began fresh negotiations last month aimed at reaching a political accommodation on the divided island. The Greek Cypriot administration is the only EU member which is blocking the opening of the 15th energy chapter on Turkey’s accession to the EU.

Vardan pointed to the rising importance of Turkey for Europe’s energy-supply security and resource diversification in the context of the Crimea crisis, highlighting the Trans-Anatolian Pipeline Project (TANAP).

TANAP is a scheme to deliver Azerbaijani gas to Europe via Turkey. The project is expected to be completed by 2019 and will cost around $12 billion.

Touching upon liberilization of the energy sector, Vardan said the public share of electricity production – currently around 40 percent – is set to be reduced by privatization. He added that Turkey's Petroleum Pipeline Corporation's (BOTAS) share in the natural gas market will also be reduced in order to harmonize with EU standards.

Vardan was speaking at an introductory meeting of the "20th International Energy and Environment Fair and Conference (ICCI)", Turkey's largest energy forum, which is to run between the 24th and 26th of April in Istanbul.

Last Mod: 25 Mart 2014, 10:11
Add Comment