Turkey isn't planning to reduce its oil imports from Iran this year or
next year in view of its need to safeguard its energy security, Energy Minister
Taner Yildiz said Thursday.
Turkey
has
already reduced its imports of Iranian crude to around five million tons a
year, or 100,000 barrels a day, Mr. Yildiz said, without specifying what level
this has been reduced from.
Turkey is one of a number of countries that the U.S. has been exempting from
Iran-related sanctions, renewable six months at a time, in exchange for
commitments to reduce or eliminate crude-oil shipments from Iran, most recently
in June.
"If we go for more reductions then it will threaten our energy security,"
Mr. Yildiz said through an interpreter at the World Energy Congress in
Daegu
,
South
Korea
.
Turkey
has
previously said that despite sanctions, it can't eliminate its energy purchases
from
Iran
,
which meets 40% of the country's oil needs. Mr. Yildiz said Thursday that
Iran
is
also one of just five countries that supplies it with natural gas.
Over the past few weeks, Tehran has indicated it is willing make effort toward
improving relations with the U.S. Iran and six major powers will hold talks in
three weeks after two days of negotiations in Geneva on a new proposal from
Tehran aimed at resolving a decadelong standoff over its nuclear program.
"Any tension and conflict will not be sustainable," Mr. Yildiz said.
Turkey
's
economy is growing rapidly, fueling energy demand that has doubled over the
past 10 years and is set to double again in the next decade, he said.
Mr. Yildiz said he expects oil prices to range between $95 and $100 a barrel,
saying that political instability in some countries has pushed oil prices
higher despite global consumption levels have remained relatively constant
around 90 million-91 million barrels a day.
He also said
Turkey
's
planned nuclear projects are on track, with no delays in sight. The projects on
tap include a plant near the
Black Sea
led
by
Japan
's
Mitsubishi Heavy Industries Ltd. (7011.TO) and France's Areva SA (AREVA.FR).