TURKEY: ENERGY CORRIDOR

Posted by refer on 20/07/10
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Turkey is now being characterized as an “energy corridor” thank to its geographical position and the nature of its neighboring countries. It holds a key position in transporting the oil and natural gas from the countries of the region, starting with Russia and Azerbaijan, but also including those of Central Asia, of Iran and Iraq, of Egypt, Syria, and Qatar to Europe. Pipeline projects kicked off with the Baku-Ceyhan pipeline in the 1990’s continued with the Blue Stream. Among the projects that are now either to be imminently signed or under construction are Samsun-Ceyhan, Blue Stream 2, South Stream, and the Southern European Gas Ring. Taking up NABUCCO alone, we see that it provides jobs to 5,000 people, involves an investment of €4.5-5 billion and brings in tax revenue of €400-450 million to Turkey alone, thus proving that such projects act as a stimulus to the economy even at the stage of construction. While these sources of energy will be the primary sources until 2030, the star of the future will definitely be renewable energy sources.

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