ST. PETERSBURG
Turkey's Energy and Natural Resources Minister Taner Yildiz on Thursday said that the Russian Federation was a strong interlocutor.
While we may not act similarly in all political issues, Russia is a country with which our strategic cooperation continues. I believe that we will have more private sector and public sector projects with the Russian Federation in the future, Yildiz stressed.
Speaking at a session on Turkey and its shifting investment flows at the St. Petersburg International Economy Forum in Russia, Yildiz said that choosing a project in the region or in a country did not imply turning away from other projects.
In the last 10 years, Turkey received the capability to embrace many projects, Yildiz stated.
Projects to be implemented with the Russian Federation and other neighboring countries are related to the development of the region and the European Union (EU). Turkey is making use of the advantages stemming from its geography as a center between the sources of oil and natural gas in the east and spots of consumers in the west, Yildiz said.
Turkey has established a liberal, private and free energy market. Turkey chose such a policy to ensure that investors come to a solid base, Yildiz noted.
We can say that Turkey's energy sector is the one receiving most direct investments. Projects connecting north-south and east-west with pipelines are ones that would strengthen direct investments. We have made the necessary legal arrangements, have speeded up contracts in the private sector for natural gas and completed privatization for oil products, Yildiz indicated.
In the energy production sector, the private sector's share has risen to 55-56 percent from around 34 percent 10 years ago, Yildiz said.
Answering a question, Yildiz said that Turkey wanted to complete tenders for the distribution of electricity by the end of 2012.
