GDF Signs MoU with Turkey for Stronger Energy Cooperation

GDF Suez took a step towards increasing clout in Turkey when the chairman of the company and Minister of Energy and Natural Resources Taner Yıldız signed a Memorandum of Understanding to strengthen cooperation in the energy sector. 

“We remain committed to investing in major energy projects in Turkey and supporting the Turkish Government to ensure security of supply as the country’s demand for energy grows,” Gérard Mestrallet, Chairman and CEO of GDF SUEZ, commented in a note. 

The French company entered the Turkish gas market in 2009. It believes that local gas demand could increase by 25% over the period 2011-2020.

Recently, Turkey has been increasingly associated with the energy corridor and energy hub concepts. This characterization of Turkey is mainly due to its unique geographical position at the crossroads the Caucasus, Central Asia, the Middle East and Europe.