Caspian Report - Issue: 07 - Spring 2014

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emın akhundzada 110 Turkey as an Energy Hub: Opportunities and Challenges EMIN AKHUNDZADA ACADEMICS AND RESEARCH COORDINATOR, HASEN
Natural gas dependency in Europe is increasing rapidly. According to current estimates, the natural gas dependency of the EU and Turkey is expected to increase significantly over the coming years. Turkey is located between the Middle East and the Caspian Region on the East, which hold 75% of the world oil and natural gas resources, and the European Union on the West, which is the largest consumer of these reserves. This strategic location provides crucial advantages to Turkey. Ankara is building on this natural advantage by bringing supply and demand together through its unique geostrategic location. Natural gas dependency in Europe is increasing rapidly. According to current estimates, the natural gas dependency of the EU and Turkey is expected to increase significantly over the coming years. Given the increasing demand for natural gas together with decreasing domestic production, experts predict that Europe will need to import 80% of its natural gas by 2030, compared to 64% today. Europe urgently needs to locate alternative sources and suppliers, and it is here that Turkey can take on a key role. If Turkey can effectively utilize its position, it stands to become a major European energy hub. One component of being an energy hub is having a sufficient energy supply. Turkey is lucky in this regard. If it implements the right energy policies, it can ensure around 100 billion cubic meters of natural gas inflow within ten years, which would transform Turkey into an energy hub. So, where can Turkey obtain this volume of natural gas Azerbaijan: Azerbaijan holds around 3.2 trillion cubic meters of proven natural gas reserves, and 7 trillion cubic meters of potential reserves. Azerbaijan is one of Turkey’s main political and economic partners in the region, and Baku’s investments in Turkey are expected to reach 20 billion USD by 2019. Azerbaijan has been exporting 6.6 billion cubic metres per annum (bcm/a) from Phase I of its giant Shah Deniz gas field through the Baku-Tbilisi- Erzurum pipeline since 2007. As part of the Shah Deniz Phase II Project, 16 bcm/a natural gas will be exported through TANAP, of which 6 bcm/a will remain in Turkey and the rest will be sold to European 111 CASPIAN REPORT, SPRING 2014
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CASPIAN Report 2 The urgent need to
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AHMET YUKLEYEN 6 Afghanistan’s Un
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AHMET YUKLEYEN 12 In short, ANF has
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US President Barack Obama holds a b
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Anti-war demonstrators rally near t
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Matteo Verda 22 CONTRIBUTION OF Tra
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Matteo Verda 24 TAP will be a 760 k
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SHAREHOLDER STRUCTURE OF TAP Matteo
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Matteo Verda 28 Azerbaijani gas wil
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Matteo Verda 30 In the end, the via
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Aura Sabadus 32 Southern Gas Corrid
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Aura Sabadus 34 Russian-backed riva
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Aura Sabadus 36 The criticism has g
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Aura Sabadus 38 other large rival t
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Aura Sabadus 40 player by selling v
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and possibly further to Europe, alt
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Aura Sabadus 44 The Southern Gas Co
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Davide Tabarelli 46 Environmental e
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Davide Tabarelli 48 evaluate potent
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View of the old town Ostuni, Puglia
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Davide Tabarelli 52 of some 200 mil
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Iran Nuclear Negotiations and Turke
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Mehmet AkIf Okur 56 posal stated th
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Iranian President Hassan Rouhani an
Page 62 and 63: Mehmet AkIf Okur 60 The steps that
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Page 66 and 67: Frank Umbach 64 Strategic Perspecti
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Page 78 and 79: Frank Umbach 76 approved by the gov
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Page 84 and 85: AntonIo SIleo 82 the end of 2011, g
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Page 90 and 91: AntonIo SIleo 88 ductant chemical r
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Page 94 and 95: Radu Dudau 92 Romania’s Energy St
Page 96 and 97: Radu Dudau 94 countries pay for Rus
Page 98 and 99: Radu Dudau 96 This industry, howeve
Page 100 and 101: Radu Dudau 98 de facto monopolies i
Page 102 and 103: Radu Dudau 100 In October 2013, the
Page 104 and 105: Radu Dudau 102 In spite of the ling
Page 106 and 107: caspian
Page 108 and 109: Why World Oil Prices Should Be High
Page 110 and 111: Luay Al-Khatteeb 108 for $1 of reve
Page 114 and 115: emın akhundzada 112 markets. Given
Page 116 and 117: emın akhundzada 114 First, it shou
Page 118 and 119: FatIh Ozbay 116 Discussions about V
Page 120 and 121: FatIh Ozbay 118 The Black Sea is a
Page 122 and 123: FatIh Ozbay 120 these two countries
Page 124 and 125: FatIh Ozbay 122 Montreux is quite s
Page 126 and 127: MUbarIz Hasanov 124 Some Remarks on
Page 128 and 129: Turkey will be USD 37 billion highe
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Caspian Report - Issue: 07 - Spring 2014

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