Turkish Energy Minister: Turkey's Botas Will Pay Debts

Turkey's Petroleum Pipeline Corporation, BOTAS, will start to make profit this month and pay its debts, the Turkish energy minister said Thursday.



Minister Taner Yildiz said that the capital cost of BOTAS will drop under the sales amount for the first time, and it will start to make profit as international natural gas market prices fell amid the oil price drop.



BOTAS owes $6 billion in debt to the treasury and customs as the state-owned company's expenditures exceed its income.



"Natural gas in Turkey is sold at the same price since 2008," said Taner Yildiz. "Turkey made the reduction in natural gas prices a long time ago."



Yildiz said that Turkey sells natural gas and electricity at the cheapest price in the EU and added that the country produces two-times more renewable energy than the EU average.



The renewables' share of Turkish power is around 25 percent, whilst the EU average is 13.5 percent.



Yildiz also said he will attend the opening ceremony of 70 wind turbines on Friday in central Anatolia, some 180 km southeast of the capital Ankara.



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