Turkey establishes spot natural gas market
Market participants will buy and sell natural gas through the application made by EPİAŞ and gain experience in the process.
Turkey's natural gas spot natural gas purchases and sales will be made to the trade center planned in line with the target market infrastructure of the completed. The test phase of the spot natural gas market system that will allow the purchase and sale of natural gas through the electronic platform will start on April 1 by Energy Market Operations (EPİAŞ).
The test period of EPİAŞ created within the market system in line with the objective of becoming Turkey's natural gas trade center will take about 5 months.
In this process, market participants will buy and sell natural gas through the application made by EPİAŞ and gain experience in the process. During this time, real natural gas trading and delivery will not be done on the market.
With the passing of the market, participants who want to trade natural gas will be able to bid for buying and selling through the established electronic platform. After the matching proposals on the platform are finalized, the "Electronic Bulletin Table" of Pipeline and Petroleum Transportation Inc (BOTAŞ) will be transmitted to the system.
In addition, BOTAŞ will provide pricing gas, which is supplied and priced outside of the market mechanism, in the system to be installed. With this application, the inequality between electricity and natural gas markets will be prevented because balancing gas is not priced on the market.
EPİAŞ will also carry out settlement transactions related to the physical imbalances resulting from balancing transactions carried out by BOTAŞ.
The testing process will start in the virtual spot natural gas trading application, 40 market participants are expected to take action. EPİAŞ will provide detailed information and training on the registration process, collateral, settlement, advance and invoice processes for the spot natural gas market application.