Energy
From The Report: Turkey 2015
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Given its reliance on energy imports and the economy’s recent slowdown, Turkey has benefitted from the sharp decline in oil prices in late 2014 and early 2015. The country has boosted energy supplies to support future economic growth, while seeking to reduce its energy dependence. In addition, a long-running dream to become an energy hub is starting to become a reality. Significant investment from the private sector and an increase in renewable in its power-generation mix can help the government meet the ever-rising demand for power. Finding new sources of oil and gas, including domestic ones, while expanding its burgeoning role as an energy transit hub are central to its strategy.

This chapter contains an interview with Besim Şişman, CEO and Chairman of the Board, Turkish Petroleum.

Articles from this Chapter

Analysis

Liberalising power: The privatisation of assets and infrastructure in the country’s electricity sector continues
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Turkey wants to raise the private sector’s share in the electricity market to 75% to raise government revenue, boost investment to keep up with demand and reduce the role of the state in the economy. Under legislation that existed until the start of 2013, this would have been difficult. However, the Electricity Market Law 6446, enacted in March 2013, sought to open up the sector to private investors who can now independently generate, distribute, export and import electricity on a wholesale and…

Analysis

Turkey makes progress on Trans-Anatolian Pipeline to transport Azeri natural gas to Europe
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The country’s demand for energy is rising and new supply sources for natural gas are needed to generate electricity, heat homes and cook. Due to scarce domestic supplies and a lack of sufficient liquefied natural gas infrastructure, those supplies will mostly come via pipeline. Turkey has trained its eyes on tapping the planned link from the Shah Deniz II gas development in Azerbaijan to markets in the EU. Over the past decade, several plans for gas pipelines along the “southern corridor”…

Interview

Besim Şişman, CEO and Chairman of the Board, Turkish Petroleum Corporation (TP)
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Interview:Besim Şişman How can Turkey work towards decreasing its dependence on costly energy imports? BESIM ŞİŞMAN:Turkey is a major consumer of energy, accounting for about 1% of global primary energy consumption, or 120m tonnes of oil equivalents per year. This figure will continue to rise as the country works to become one of the world’s top 10 economies by 2023. Unlike some of its neighbours, Turkey is not a hydrocarbon-rich country and has to purchase resources abroad to…

Analysis

Turkey working to expand domestic hydrocarbons resources through continued exploration activities
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While Turkey may be at the crossroads of civilisations, it is in a hydrocarbons cul-de-sac. The country is surrounded on all sides by significant oil and gas deposits that all stop short of Turkish frontiers. The bountiful Zagros fold and thrust belt, which extends from the Arabian Peninsula up through Mesopotamia, ends at the Turkish-Iraqi border. A few hundred miles away is the super giant Kirkuk oil field. To Turkey’s east are Azerbaijan’s massive oil and gas fields. To the west, in the Aegean…

Analysis

Turkey’s plans to build nuclear reactors to boost power generation capacity repeated delayed
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In an effort to join the club of nuclear nations, Turkey has announced plans to build 12 nuclear reactors by 2030, with the intention that 20% of power generation capacity will be provided from this source. However, while eight projects have been approved, delays have already befallen the initial build-own-operate (BOO) project, Akkuyu 1, pushing the commencement of its operations to 2022 from the previously announced 2020, and numerous other obstacles remain. Chief among these are economic conditions,…