European energy exchanges ICE Endex and EEX are competing for a slice of Turkey's booming power market as the country prepares to open its first electricity exchange, executives from the companies said on Tuesday.
Turkey, with $60 billion of annual energy imports, is liberalising its energy market and plans to open an electricity exchange by October to increase liquidity and become a leading trading hub between Europe and the east.
Expected growth in Turkey's energy demand is second only to China, making the country a favourite investment market among European energy companies hit by stalling growth in their core markets.
"We're looking at Turkey with interest as a new business opportunity," said Wouter de Klein, commercial director at ICE Endex, on the sidelines of the EMART Turkey energy conference.
"We would be interested in participating in further developing the energy trading markets in Turkey and to work together with the relevant Turkish authorities in doing so."
ICE Endex is a new European power and gas trading platform launched by Intercontinental Exchange (ICE) this year to increase its presence in Europe's mature energy markets.
Germany-based rival EEX has already signed an agreement with Turkey's transmission system operator TEIAS to cooperate on the creation of Turkey's energy exchange.
