The Global Energy Management (GEM) division of France's Engie, a multinational electric utility company, has revealed plans to establish a gas and electricity trading platform in Istanbul, through a written statement on Dec. 29.

The written statement read, "We have been rendering service in Turkey for more than 40 years. Neptune, one of Engie Group's Floating Liquefied Natural Gas (LNG) Storage and Gasification (FSRU) terminals, started to operate in İzmir's Etki LNG terminal as the first FSRU terminal in Turkey last week. Engie continues to actualize natural gas supply projects in line with the needs of the Turkish market."

It was mentioned that Engie established commercial relations with Turkey's Petroleum Pipeline Corporation (BOTAŞ) over spot cargoes in recent years. One of the contracted spot cargoes of Engie was directed to Turkey as negotiations with BOTAŞ over medium-term sales opportunities continued.

Engie CEO and Country Representative Denis Lohest said, "Our strategy in Turkey is to develop projects that will increase our production capacity and highlight renewable energy. We also want to join tenders in this area, establish strong, long-term relationships with our customers and support them in energy supply. We also provide services in the areas of energy efficiency, maintenance, repair and plant management, supply main products in the energy market, and want expand our existing activities, performance and efficiency in order to maintain our leading position in the Turkish market. Within this framework, we aim to expand our vision of being a reliable partner with our stakeholders in Turkey." Lohest added, "The Global Energy Management Department strives to establish a gas and electricity trading platform and thus accomplish its goal to accelerate growth in this area."

As highlighted in the statement, Engie wants to optimize supply and market access in order to increase the competitiveness of its facilities in Turkey as well as provide energy risk management services with a view to supporting the electricity plants and gas sales teams. Moreover, when the energy management team provides its trade services with third parties by transferring its 15 years of customer experience in free markets, the active support for the development of renewable electricity generation and the wholesale of gas and electricity in Turkey will be facilitated. It is a global energy player and an expert operator in the three businesses of electricity, natural gas and energy services. In partnership with Mitsubishi Heavy Industries, the company is carrying out feasibility studies at the proposed Sinop Nuclear Power Plant.