CLIENT ALERT

September 2018

   

 

For further information please contact:

Dr. Çağdaş Evrim Ergün
Partner, Ankara
c.ergun@cergun.av.tr

Aslı İbiş
Legal Intern, Ankara
a.ibis@cergun.av.tr

Ergün Avukatlık Bürosu İstanbul | Levent Loft II, D: 13-16, Levent
T +90 (212) 280 90 91

Ankara | Mahall Ankara, E Blok, D: 63, Çankaya
T +90 (312) 220 30 60

E info@cergun.av.tr

W cergun.av.tr

Launch of the Organized Natural Gas Wholesale Market in Turkey

The Organized Natural Gas Wholesale Market has been officially launched in Turkey on September 1, 2018. Upon completion of the virtual implementation phase, which was in place since April 1, 2018 pursuant to the Regulation on the Organized Natural Gas Wholesale Market, the market has been officially launced with the commissioning of the perpetual commercial platform on September 1, 2018.

The market has been established in order to create a trading platform for natural gas where spot market transactions and balancing and settlement of imbalances can be conducted and the reference prices for the natural gas can be established. Upon the launch of the perpetual commercial platform, the first matching has been successfully achieved and delivery, billing and payment obligations for the market participants have begun.

The market will be operated by Enerji Piyasaları İşletme A.Ş. (EPİAŞ), which is the market operator in the electricity markets as well. Market participants who wish to carry out spot natural gas trade may sell and purchase natural gas for 365 days and 24 hours through the electronic platform.

 

This information is provided for your convenience and does not constitute legal advice. It is prepared for the general information of our clients and other interested persons. This should not be acted upon in any specific situation without appropriate legal advice. This information is protected by copyright and may not be reproduced or translated without the prior written permission of Ergün Avukatlık Bürosu.