Category: Europe

Turkey wants more Russian gas

Photo: EPA

Russia and Turkey are ready to begin talks about an increase in Russian export gas supplies. For the time being, under discussion are additional 3 billion cubic metres of gas annually. However, experts are sure that the consumption of fuel in Turkey as well as the demand for Russian gas will grow in the country in the coming few years.

Turkey has limited reserves of natural gas. Today Turkey is spending billions of dollars on prospecting for new gas deposits in the south-east of the country and in the Black Sea. 17 new oil and gas deposits have already been discovered. Some experts say that there are big reserves of shale hydrocarbons in Turkey. In any case, Turkey can effectively handle only the natural gas it imports. In compliance with the Russian-Turkish contract, the Russian gas giant Gazprom supplies nearly 26 billion cubic metres of gas to Turkey annually. In the future Turkey would like to receive from 29 to 30 cubic metres of gas per year. Gas consumption in the country is growing. Russian fuel is transported to Turkey through the Western Corridor and the Blue Stream gas pipelines. If Turkey wants, their capacity could be increased, Head of the Analytical Research Department at the URALSIB Company Alexander Golovtsov says.

“Turkey’s population is growing. Therefore, gas consumption in the country will grow too. Hence, unless the global situation with Iran is settled and torrential gas flows start coming from it to Turkey, the demand for Russian gas will grow, and with the existing growth rates another 5 years will be needed to fill the Blue Stream gas pipeline with gas.”

Russia is not the only supplier of natural gas to Turkey, the partner of the consulting RusEnergy Company Mikhail Krutikhin says.

“Another stage of the gas project leading to Azerbaijan will be launched by 2018, and the volume of the pumped Azeri gas to Turkey will increase as well. Besides, Turkey plans to receive gas from Iraqi Kurdistan, in addition to the liquefied natural gas (LNG). Although Russia is Turkey’s very important partner, it is not its only partner.”

Thus, Turkey is trying to receive the maximum benefit from its geographic position – between the countries involved in gas extraction. Besides, Turkey holds a monopoly on the transit of natural gas because it has established its control over the Black Sea’s outlet to the Mediterranean Sea, Mikhail Krutikhin said.

“Turkey does not let large gas carriers to enter the Black Sea. Thus, the capacity of the Bosporus Strait and the Dardanelles hamper Ukraine’s plans to build a terminal for the import of liquefied natural gas.”

In fact, Russia and Turkey have similar views regarding gas issues. Russia’s Gazprom is seeking to diversify its export flows and to sell its gas to various countries. The Turkish market, which is more dynamic than the European market, remains more attractive. And as regards Turkey, it is trying to develop its own system of gas import, buying gas from numerous buyers – a little at a time, aiming to become dependent on nobody. But even with the existing arrangement, Russian gas pipelines remain the most effective mechanism.

via Turkey wants more Russian gas: Voice of Russia.

February 14, 2013
German DIY chain Praktiker withdraws from Turkey

Feb 11 (Reuters) – German do-it-yourself chain Praktiker AG is closing its stores in Turkey and withdrawing from the country after failing to sell the nine stores its operates there.

The company, which is battling to return to profit, said on Monday its Turkish subsidiary filed for managed insolvency proceedings with an Istanbul court earlier in the day.

“We cannot afford a persistent loss-maker like Turkey. We made intensive efforts to sell our Turkish subsidiary but could not reach an agreement that was economically acceptable for us,” Praktiker Chief Executive Armin Burger said in a statement.

He said the company should manage to improve profitability in all other countries in which it runs stores by adjusting structures and processes and by further curbing costs. (Reporting by Maria Sheahan; Editing by David Holmes)

via German DIY chain Praktiker withdraws from Turkey | Reuters.

February 14, 2013
Lurgan band move to Turkey and become serious Eurovision contenders

IN tonight’s Lurgan Mail we bring you an exclusive report on a Lurgan band who are bidding for Eurovision glory.

(Their Song : )

Inchequin looked to have called it a day when Hugh O’Neill and Sinead Bradley moved to Turkey, but instead the move has rejuvenated the band to the point where they’ve recruited three new members, all of whom are household names in their native Turkey, and become serious contenders for the Eurovision crown.

Their song ‘Son Kez’ is competing to become Ireland’s Eurovision entry. Read all about it in this week’s Lurgan Mail.

via Lurgan band move to Turkey and become serious Eurovision contenders – Local – Lurgan Mail.

February 14, 2013
Turkey Moves Closer to EU Membership Talks

France on Tuesday said it was ready to resume EU accession talks with Turkey, marking a warming of ties after a long period of bilateral tension under former President Nicolas Sarkozy.

Speaking at the sidelines of a conference on Libya on Tuesday, French foreign minister Laurent Fabius told his Turkish counterpart Ahmet Davutoglu that Paris is ready to unblock European Union membership talks on the subject of regional policy.

“I confirmed to him that we were ready … to begin discussions on chapter 22,” Fabius told a news conference. Turkey has completed just one of 35 policy “chapters” every candidate must conclude to join the EU. All but 13 of those chapters are blocked by France, Cyprus and the European Commission.

Turkey launched a formal EU accession bid in 2005, four decades after the first talks but the process has stalled due to opposition from core EU members France and Germany as well as an intractable dispute over Cyprus, the divided island state that Turkey does not recognise.

The talks have also been blocked by the European Commission, which says that Turkey does not yet meet the required standards on human rights, freedom of speech and religion.

“This is certainly a change of attitude from the former government,” said one official in Paris, although he added it was “too early” to tell whether France would now swing fully behind Turkish EU membership – a sharp contrast to Sarkozy’s position that Turkey did not form part of Europe.

Related Story: While Turkey’s Economic Star Rises, Sarkozy’s France Finds Irrelevance

Another French diplomatic described it as “a political signal, a first step” to pave the way for French President Francois Hollande to visit Turkey, although no date has been set.

Despite the slow progress, the eurozone crisis and waning domestic support, Turkey has continued to push for full membership in the EU and has said it wants to join before 2023, the centenary of its founding as a republic.

Earlier this month, Turkish Prime Minister Tayyip Erdogan said his country’s half-century wait join the EU was “unforgivable” and it should be admitted without delay.

Erdogan has previously warned that the EU could “at the very least” lose Turkey if the bloc continues to alienate and give it the cold shoulder and recently raised the possibility of deepening ties with the Russian-Chinese backed Shanghai Co-operation Organisation instead.

At the end of last year, Ankara accused the EU of “biased and unwarranted bigoted attitudes” in an official report on its membership application process.

In a statement accompanying the official 270-page report, Turkey’s EU affairs minister Egemen Bagis said:

Today there is no government in Europe which is more reformist than our government. While EU countries are struggling in crisis, our country is experiencing the most democratic, prosperous, modern and transparent period in its history. The ‘sick man’ of yesterday has got up and summoned the strength to prescribe medication for today’s Europe … and to share the EU’s burden rather than being a burden to it.

In the decade ending 2012, Turkey recorded the highest-growth rate among the Organisation for Economic Cooperation and Development economies and is expected to grow 4 percent or more in 2013.

via Turkey Moves Closer to EU Membership Talks | Economy Watch.

February 14, 2013
Foreign Residential Property: Turkey or Montenegro?

Business And Politics News

Foreign Residential Property: Turkey or Montenegro?

09 February 05:04 PM

These days more and more investors tend to investors in foreign residential property. Wealthy people purchase apartments, villas and townhouses in Spain , Great Britain, Switzerland etc.

At the same time, those people who cannot afford to buy expensive homes, strive to invest in the residential property of other countries. Turkey and Montenegro are especially popular with them.

Turkey and Montenegro

Most foreign investors know little about those countries and their housing markets. The key fact is that both the countries are tourist centers with high-quality services and relatively low prices.

Montenegro has an outlet to the Adriatic sea, which is colder but much cleaner than the Mediterranean and Black seas. Montenegro offers tourists a wide range of leisure opportunities from sunbathing on the beach and swimming in the sea to skiing and snowboarding in the mountains. Beautiful nature, fresh air low prices and high-quality services make Montenegro a perfect place for vacation. Loyal legislation is another factor speaking in favor of investing in Montenegro .

However, there is a certain percent of uncertified residential property left after the disintegration of Yugoslavia.

As for Turkey, there are no such legal issues. Turkey can boast a well-developed and efficient cadastral system. The local legislation defends an individual’s right if he/she has a TAPU – the certificate of property rights. Moreover, it is impossible to purchase residential property in Turkey without the Turkish Ministry of Defense as there are special zones in Turkey where property sales contradict the country’s military doctrine.

It should be noted that most foreign investors buy Turkish property to make profits. The local housing market grows by 10% a year on average, which means you can make decent profits as the market is still undervalued.

On the other hand, the territory of Turkey is relatively big. So, it is necessary to examine closely the current situation in the local housing market of any region where you want to purchase residential property. The closer the area is to the borders with Syria, Iraq or Iran and the farther it is from the sea, the lower the housing prices in this area are.

Turkey, Antalya. An apartment – €70 000, 75 square meters — (€933 /m²). 100 meters to the sea.

Montenegro is another story. Its territory is relatively small. However, the transportation and tourist infrastructure is highly developed and is being improved.

However, there are problems with constructing new buildings in coastal areas. So, it is better to purchase ready-made housing units or those that are under construction.

Montenegro , Бар, Dobra Voda. A villa – €250 000. 170 square meters.

Expenses

When buying residential property in Montenegro , you will have to pay a 3% budget tax and an annual maintenance tax – form 0.08% to 0.8%. In turkey, you will have to pay a 4% tax plus 0.01% a year per maintenance.

Obviously, the cost of a certain housing unit depends on several factors, including the location, living space, infrastructure and others. A square meter of residential property in Montenegro and turkey starts from €500. However, the cost of most housing units available for sale is within the range of €1.500-€3.500 per square meter.

Experts recommend buying residential property in Montenegro if you want to lead a calm and slow-paced lifestyle. However, if you are planning to purchase foreign residential property for investment or commercial purposes, Turkey is a better option.

You are free to discuss this article here: forum for traders and investors

via Market Leader : News :: Foreign Residential Property: Turkey or Montenegro?.

February 12, 2013
Turkey looking at EU alternative

Editor’s Note: The following report is excerpted from Joseph Farah’s G2 Bulletin, the premium online newsletter published by the founder of WND. Subscriptions are $99 a year or, for monthly trials, just $9.95 per month for credit card users, and provide instant access for the complete reports.

WASHINGTON – Turkey is no closer to membership in the European Union now than when it first applied in 1959 and instead it is looking eastward to join the Shanghai Cooperation Organization out of total exasperation, according to a report in Joseph Farah’s G2 Bulletin.

The SCO is comprised of Russia, China, Kazakhstan, Kyrgyzstan and Tajikistan.

Turkey, which is a long-standing member of the North Atlantic Treaty Organization, or NATO, still holds out faint hope of joining the E.U.

The reality, however, is that fellow NATO members Germany, France and Greece have opposed Ankara’s membership, even though Turkey can ship its products duty-free to E.U. nations under a prior arrangement but people sending the products still need to file for a visa.

Turkey hopes to allow its citizens to enter into E.U. countries under the Schengen Treaty, which allows E.U. members to travel among the E.U. member countries without a visa.

“There is one issue that has been on top of our agenda still pending to be resolved,” said Egemen Bagis, Turkey’s Minister for E.U. relations, “the Schengen visa preventing the free travel of Turkish citizens.”

“It is not fair,” he said. “Turkey is the only E.U. candidate country, whose citizens are still subject to visas. Turkey is the only country that had formed a Customs Union with the E.U. without becoming a member. The products of Turkish businessmen can freely flow into the Union, but the owners of those products cannot freely travel.”

Bagis said that Turkey still seeks membership. However, the E. U. “actually wants to forget us. We are not the ones that are undecided – the European Union is. Whereas, if they would just reveal their true intentions to us, we would be at ease. We could just look after our own business and go our own way. The European Union needs to stop stalling us.”

Turkey’s total exasperation recently was exhibited by Turkish Prime Minister Recep Tayyip Erdogan.

“I told Russian President (Vladimir) Putin, ‘You should include us in the Shanghai Five and we will say farewell to the European Union.’”

Separately, Erdogen let his feelings be known that the SCO “is better and more powerful, and we have common values with them. We told them ‘if you say come, we will.’ Pakistan wants to join, as does India. They have also made requests. We could all join together. In terms of population and markets, the organization significantly surpasses the European Union in every way.”

Some observers believe Erdogan is using the SCO as leverage to get into the E.U. Others aren’t so sure. They point to the fact that Erdogan has made such statements in the past.

Given the E.U.’s economic problems, Erdogan may be looking to the developing markets such as China and India for future opportunities. Turkey’s membership would especially be an asset to China and Russia, which would have greater access to Western technology as a result of Turkey being a NATO member.

For Turkey, this arrangement also would be of political benefit since it would be able to reassert its influence in a fast-expanding market of Central and East Asian countries, where Turkey under the Ottoman Empire asserted great influence.

Keep in touch with the most important breaking news stories about critical developments around the globe with Joseph Farah’s G2 Bulletin, the premium, online intelligence news source edited and published by the founder of WND.

For the complete report and full immediate access to Joseph Farah’s G2 Bulletin, subscribe now.

via Turkey looking at EU alternative.

February 11, 2013