Analysing Natural Gas Prices for Turkey in the Light of a Possible Hub

Nalbant H., Kayalıca M. Ö., Kayakutlu G., Aydın G. K.

8th IFIP WG 12.6 International Workshop on Artificial Intelligence for Knowledge Management, AI4KM 2021 held in conjunction with International Joint Conference on Artificial Intelligence, IJCAI 2020, Virtual, Online, 7 - 08 January 2021, vol.614, pp.193-212 identifier identifier

  • Publication Type: Conference Paper / Full Text
  • Volume: 614
  • Doi Number: 10.1007/978-3-030-80847-1_13
  • City: Virtual, Online
  • Page Numbers: pp.193-212
  • Keywords: Natural gas market, Hub pricing, Gas demand, Gas transportation, MARKET INTEGRATION, ENERGY HUBS, CRUDE-OIL, FORECAST, EUROPE, MODELS, UK
  • Istanbul Technical University Affiliated: Yes


© 2021, IFIP International Federation for Information Processing.Turkey has an important geopolitical position with short distances to the regions of the largest natural gas reserves. It is a country that depends on importing this energy resource from Russia, Iran and Azerbaijan through pipelines, and LNG suppliers. Being very close to high demanding countries, Turkey has yet the chance to play an important role in transferring gas from reserves to the demand sites. That is why the natural gas market in Turkey can complete the liberalization by defining an international gas hub in the global gas trade system. In this respect, the pricing of large trading volumes will be an issue for the near future. This paper aims to underline the importance of hub pricing through structuring a virtual hub in Turkey. Hence, the current outlook of the global natural gas markets and Turkey’s position in this business are presented in detail.