Energy
From The Report: Turkey 2012
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While the country has been poor in many energy resources, Turkey’s geography has been central to its economic success. To better leverage this advantage, the government is working with the private sector to make Turkey central to the transit and storage of natural gas and petroleum resources. Electricity demand steadily increased at about 8% per annum, and this is driving the formulation of policies that will see Turkey increase production from renewable resources. As energy resources constitute a significant portion of total imports, driving up the current account deficit, the government is also launching efforts to see domestic resources become a greater share of the energy mix.

The Energy chapter contains interviews with Taner Yıldız, the Minister of Energy; Alexander Medvedev, the Director General of Gazprom Export; Tony Hayward, the CEO of Genel Energy; and Rovnag Abdullayev, the President and CEO of SOCAR.

Articles from this Chapter

Overview

Power plays: Transit, pipeline and renewable projects are all in the works
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Long-time aspirations to become an energy corridor are now within Turkey’s grasp. A raft of pipeline projects and a grand canal have been proposed, with hopes these projects will be under way soon. Turkey’s location between the hydrocarbons-rich Middle East and Eurasian regions and energy-hungry Western markets makes it a key player in energy trade. But challenges abound as well. The economy is saddled with a crippling energy import bill that may jump 25% to $68bn in 2012, which will make…

Analysis

So crazy it just might work: A massive canal may one day reshape Istanbul
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After two years of secret planning, Prime Minister Recep Tayyip Erdoğan in 2011 revealed his “crazy project”: digging a 50-km-long, 150-metre-wide canal from the Black Sea to the Sea of Marmara. The canal would turn half of Istanbul, a city of some 16m-18m residents, into an island and rival the engineering feats at Suez and Panama. “We are rolling up our sleeves for what will be one of the greatest projects of the century,” Erdoğan announced on live television in April 2011. The…

Interview

Powering up: OBG talks to Taner Yıldız, Minister of Energy and Natural Resources
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Interview: Taner Yıldız How does the government plan to achieve greater energy resource independence, and how will wind and solar resources play a role in this process? TANER YILDIZ: Turkey is an import-dependent country – 72% of our energy comes from abroad. To reduce our current dependence on imports, we need to increase utilisation of domestic and renewable resources. The search for petroleum and natural gas, on land or underwater, continues, but we are also working to unleash our wind and…

Analysis

It’s in the pipeline: Investments in the oil and gas infrastructure continue
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With so many proposed supply routes on the drawing board and its position as a key transit route secure, Turkey waits to see who will pull the trigger first. When it comes to hydrocarbons, geography is destiny. Despite its limited domestic supplies, the adage also rings true for Turkey. With some of the world’s largest oil and natural gas reserves to its east and hungry markets to its west, Turkey is an indispensable piece of a complex and evolving regional energy puzzle. For decades, energy…

Interview

OBG talks to Tony Hayward, CEO, Genel Energy
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Interview: Tony Hayward How much has security and stability contributed to the economic success of the Kurdistan region and to attracting investment? TONY HAYWARD: I think you have to recognise the great success the Kurdistan region has had in creating a secure and stable operational environment. That is, of course, where we are focused and it is the bedrock of economic success. Without security and stability it is very difficult to have the amount of foreign investment required for the oil industry…

Analysis

Water world: Hydroelectric power plants are a major renewable energy source
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Hydroelectricity is the cornerstone of Turkey’s goal to boost renewable energy supply, but building thousands of dams comes at an environmental cost. Retired imam Kazım Delal avoids visits to his beloved Küçükcayır, the village where he grew up and that his family has called home for five generations. Located in the lush Salarha Valley in the emerald-green mountains of the eastern Black Sea, Küçükcayır is famous for its sweet honey made from wild roses and fresh trout that swim in…

Interview

OBG talks to Rövnag Abdullayev, President and CEO, SOCAR
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Interview: Rövnag Abdullayev, How has SOCAR’s Trans-Anatolian Natural Gas Pipeline (TANAP) affected the competition to transport Azerbaijani natural gas to Europe? ROVNAG ABDULLAYEV: The way I see it, TANAP is not competing with other projects in the region; it is just an alternative to projects aimed at reducing the natural gas shortages in Turkey and the EU. The aim of this project is to transport Azeri gas, produced in Shah Deniz II and other Azeri reservoirs, to Turkey and then to Europe…

Analysis

Push for renewables: Turning to wind, sun and water to enhance energy security and protect the environment
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The world’s first hybrid combined-cycle power plant, developed by General Electric and California-based eSolar, will not be built in the US or Europe. Instead, MetCap Energy Investments is launching the groundbreaking €450m project in the central Turkish province of Karaman. Revolutionary technology that combines natural gas with wind and solar power will fire the 532-MW plant, playing a part in the Turkish government’s target to generate 30% of electricity from renewable energy by 2023.…