Turkey ends investor barriers
Turkey`s energy minister has reached an agreement with the country`s highest administrative court to remove an obstacle to investment in the country`s energy market. Ziya Aktas has said that the Danistay will no longer stand in the way of energy projects requiring international arbitration.
Turkey is one of Europe`s fastest growing energy markets, but current law states that the Danistay has the final say in disputes with foreign investors. This has recently been a big obstacle to attracting overseas investment.
Amendments should allow deals to be defined as commercial agreements which are not subject to Danistay approval.
– The Turkish government is planning to buy 10bn m3 of natural gas per year from Turkmenistan.