A look at Turkey's shale gas future

A look at Turkey's shale gas future:

"

image: oilandgas-investments.com

A growing economy, increasing energy demand, and limited domestic reserves have challenged the sustainability of Turkey’s rising star. To overcome this risk, Ankara is facilitating foreigner investments’ penetration into the market with new regulations. In this favorable environment and due to the Energy Information Agency (EIA)’s optimistic estimations on technically recoverable shale oil and gas, Turkey has become a frequent flyer destination for energy investors, opening the debate on if the future holds a shale gas boom or, conversely, a bubble.

Energy hungry Turkey has a vulnerable energy balance. More than 30 percent of energy consumption comes from natural gas and another 30 percent from oil, while the country's reserves don’t constitute any considerable part of this consumption. Thus, the market remains import dependent. To adjust for this balance, Turkey at first decided to diversify its supply portfolio and has invested over the last decade in the southern energy corridor project. This first investment brought joint investment with Azerbaijan, resulting in the Trans-Anatolian pipeline (TANAP), which will bring 16 billion cubic meters of gas per year to Europe."

'via Blog this'