EFET contracts make progress in Turkish power, gas sectors
A total of 20 Turkey-based electricity companies are thought to have signed the master agreement developed by the European Federation of Energy Traders (EFET), raising hope that activity on the over-the-counter market may increase this year, EFET's representative said.
ICIS also understands that EFET's natural gas contract has been translated and adapted to Turkish law.
The contract for delivery and acceptance of electricity received the backing of the Turkish energy traders' association and a total of 15 companies had reportedly signed it by late last summer (see EDEM 17 August 2012).
EFET is now stepping up its presence in the Turkish energy sector, raising the profile of the contracts by organising a workshop at the E-World trade show in Germany this February.
"We already have 10 European companies signed up for our E-World workshop [that] are not based in Turkey, but which have an interest in the market," said Burak Güler, EFET Turkish market coordinator, who is responsible for the organisation of the workshops.
He said the EFET gas contract has been put out for consultation with private gas companies and should be ready to be signed well before the start of the gas year.
Güler said he had also introduced the EFET electricity contract to some Georgian counterparties ahead of the start of electricity imports from the Caucasian country later this year.
"I presented the master agreement to the Georgian regulator, and there may be a couple of market participants interested in signing it by May 2013 when the physical interconnection is likely to go live," he added.
A total of 350MW was expected to come on line on a new 400kV line by August 2012, but the interconnection is yet to be completed.
The Georgian-Turkish capacity is expected to be increased to as much as 700MW by this summer when a second 350MW back-to-back block is due to be switched on. AS
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