Turkey set to become a major energy hub
Turkey’s Energy Minister Taner Yıldız has stated that Royal Dutch Shell and Turkish Petroleum Corporation will start drilling for oil and gas in the western Black Sea starting January 2015.
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The International Energy Agency estimates that Turkey will likely experience the fastest medium to long-term growth in energy demand among its member countries. It is estimated that electricity, natural gas and oil demand will reach 398-434 billion kWh, 59 BCM and 59 million tons, respectively.
Only 26% of Turkey’s energy needs are met domestically; the remainder is provided by imports. Thus, now is the right time for you to enter this market as the Turkish Government is giving priority to the private sector for financing inward investments.
Gain more insights by attending the 14th Turkish International Oil and Gas Conference (TUROGE), taking place on 18 - 19 March 2015 at the Sheraton Ankara Hotel and Convention Center in Ankara, Turkey.
Turkey’s national energy strategy focuses on: ensuring diversified, reliable, and cost-effective supplies for domestic consumption; liberalising its energy market; and becoming a key transit country and energy hub. Three quarters of the world's proven oil and gas resources are located in the country’s neighbouring regions.
Turkey is also making strong progress in becoming a regional energy hub, with The Kurdistan Regional Government planning to increase oil exports through the Kurdistan crude oil pipeline to Turkey to 400,000 b/d by yearend and 500,000 b/d by the end of first-quarter 2015. This alliance may significantly help Turkey reduce its dependency on Russian and Iranian gas imports.
Furthermore, the country has been undertaking steady exploration activities with current seismic surveys being conducted off the coast of Cyprus, and ongoing exploration in Thrace and the south eastern regions which – to date - has attracted $7.5 billion investment over the past 12 years
Updates on the Southern Gas Corridor, TAP and TANAP projects
Identifying potential sources of alternative gas supply with a special focus on cooperation in the East Mediterranean and Northern Iraq
Updates on offshore and onshore exploration projects including shale gas prospects
How to expand refining and petrochemical capacity
Understanding investment, regulatory and fiscal frameworks
The TUROGE 2015 app now available to download here
H.E. Taner Yıldız, the Minister for Energy and Natural Resources of Turkey has confirmed to speak at the TUROGE Conference. We are delighted to have the Minister on board!
The General Directorate of Mineral Research and Exploration (MTA) have issued an official support letter for TUROGE 2015. View the letter here