LNG

Turkey, an LNG importer and with plans to increase domestic production from Black Sea fields and the main route to Europe for natural gas from Azerbaijan, has raised the prices of natural gas and power by 20 percent for industrial users amid energy secuirty concerns in the South Caucasus region bordering Eastern Europe.

Turkish President Recep Tayyip Erdogan said in a speech that Turkey, an LNG importer, was continuing to prepare for the creation of a natural gas hub for Russian pipeline gas on its territory and a road map was being drawn up and aimed at supplying the European Union.