Turkey plans no cut in Iran oil imports

Turkish Energy Minister Taner Yildiz says his country will import 100,000 barrels per day (bpd) of crude oil from Iran next year, hinting that Ankara will not cut its oil imports despite US-led sanctions against Iran™s energy sector.

œNow we are importing about 5 million tons (100,000 bpd) and if we (reduce more) than that, then that would threaten our energy supply security,” Reuters quoted Yildiz as saying on Thursday in a briefing during the World Energy Congress in South Korea.

The minister added that Turkey will also raise its gas imports from Iran – currently standing at 10 billion cubic meters (bcm) a year – if possible.

Yildiz noted that Turkey has seen its energy demand double over the past ten years and that it will double again during the coming ten years.

Iran, which owns the world™s second-largest natural gas reserves after Russia, is Turkey™s second biggest gas supplier after Russia. Turkey uses a significant portion of its imported Iranian natural gas to generate electricity.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran™s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

In June this year, the US renewed 6-month waivers on Iran sanctions for Turkey and eight other countries in exchange for their cut in oil purchase from Iran.


Copyright: Press TV