Shell and Turkish Petroleum Corporation to sign agreement for exploration of oil and natural gas, says energy minister

ANKARA (A.A) - November 16, 2011 - Turkish Energy and Natural Resources Minister Taner Yildiz said Wednesday that British energy company Shell and the Turkish Petroleum Corporation (TPAO) will have a meeting next week to discuss possible cooperation for exploration of oil and natural gas on Turkish land and seas. Minister Yildiz received on Wednesday Thomas Mirow, the president of the European Bank for Reconstruction and Development (IBRD), in Ankara. Speaking to reporters after a closed door meeting with Mirow, Minister Yildiz said that they had a comprehensive meeting with Mirow and his delegation. "We talked about investments on renewable energy and structures that need financing in the energy sector," Yildiz said. Touching on Greece's debt to Turkey for natural gas, Yildiz said that Greece owed a total of 300 million USD to Turkey and that they have paid 185 million USD of the debt so far. We plan to receive the remaining part of the Greek debt by the end of January, 2012, Yildiz said. Mirow, in his part, said that he and his delegation had a "very fruitful meeting with Yildiz". In the past three years, Turkey has become the second country where the IBRD is most active, Mirow said. We had a chance to discuss the Nabucco Project. When we look at Turkey, our main focus will be on renewable energy, Mirow also said.