EPIAS, Energy Stock Exchange Istanbul, began to publish natural gas transmission data on Friday, company announces Saturday.
Data sharing was done through the online transparency platform of EPIAS, according to the announcement.
The Stock Exchange will continue to share Turkey's natural gas transmission data including transport nomination, virtual trade, capacity, reserve, actualization and stock amount, on a daily basis, the Stock Exchange said in its release.
EPIAS will cooperate with Turkish Petroleum Pipeline Corporation (BOTAS) in data preparation process on the transparency platform, the body announced.
As part of Turkey's efforts to become a natural gas trading hub, EPIAS developed a software system which will allow natural gas trading through an electronic platform.
On April 1, the body kickstarted the testing process for improving the electronic system before it goes officially online in September.
After the 5 months testing period, the new spot natural gas market system will determine the natural gas prices for the day-ahead market.
In the day-ahead market, the system price will be set by matching offers from suppliers with corresponding bids from market players to develop a supply and demand equilibrium price.
The move comes as a part of the bid for Turkey's aspirations for becoming a regional natural gas hub. As an energy hungry country with limited resources, Turkey tries to take steps for energy market liberalization in the hope for attracting more market players for a globally acknowledged energy market trading environment.
By Muhsin Baris Tiryakioglu