Russia's Turkish Pain Could Be Genel's Gain

摘要

The collapse of Russia's proposed Turk Stream gas pipeline to Turkey could be a boon for Anglo-Turkish independent Genel Energy. It is in talks with state-owned Turkish Energy Co. (TEC) for the Turks to take a strategic stake in the Miran and Bina Bawi Blocks in Iraqi Kurdistan, Genel CEO Murat Ozgul revealed last week. The fields are supposed to start supplying Turkey with 10 billion cubic meters per year (970 million cubic feet per day) by 2019, but have yet to start producing gas. Ozgul conceded that talks are still at an "early" stage, but is targeting a 50% TEC partnership "in the third quarter."