Turkey's Energy Stock Market (EPIAS) is planning to establish the oil market in 2019 and coal market in 2020, in a bid to expand its operations in the energy market, EPIAS said on Tuesday.
EPIAS aims to complete the feasibility study for the oil sector in 2017 and legislation and technological infrastructure will be finished in 2018, according to '2016-2020 Strategic Plan' published by EPIAS.
Legislation and technological infrastructure work for the coal sector will be concluded by 2019.
EPIAS, also known as Energy Exchange Istanbul (EXIST), was established on March 18, 2015. The stock market currently offers trading in the electricity sector.
In 2016, EPIAS completed the road map for the establishment of the natural gas sector and the draft version of the legislative documents were submitted to Energy Market Regulatory Authority (EMRA).
The price of natural gas will be determined on spot markets in 2017, EPIAS announced in its plan.
EPIAS intended to start the natural gas market by the end of 2016, Hasan Huseyin Savas, EPIAS general manager, said on April 4, 2016, but it was later pushed to 2017.
By Zeynep Beyza Kilic
Anadolu Agency
zeynep.karabay@aa.com.tr