With energy security currently at the top of the political
agendas of most European countries, Turkey has spotted the
opportunity to take a pivotal role as a secure transit corridor for
oil and gas supplies.
Some 72% of the world's oil reserves and 73% of its gas reserves
are in areas that surround Turkey (Russia, the Caspian region and
the Middle East), which gives Turkey a "unique geo-strategic
location," Emre Engur, deputy head of business development at
Turkey's state-owned oil and gas giant Botas, told Platts this
month.
As Turkey's importance as a gateway grows, it further increases
European energy supply security by ensuring increased access to
Caspian reserves.
-- Emre Engur, Botas
"Turkey will continue to transport the energy resources of the
Caspian region and Middle East to Europe and onwards to the world
markets," he said. "Turkey is becoming an effective east-west energy
corridor."
Engur stresses, too, that Turkey can play a particular role in
diversifying oil and
gas supplies for Europe
-- traditionally heavily dependent on Russian energy -- by providing
new links to the
energy-rich Caspian region's resources.
"As Turkey's importance as a gateway grows, it further increases
European energy supply security by ensuring increased access to
Caspian reserves," he says.
Turkey is already home to the notoriously congested Bosporus
Straits, which have served for a long time as the only means to
export Caspian and southern Russian oil to
Mediterranean markets.
However, the narrowness of the straits means only a limited
amount of traffic can pass through at any time and the bottleneck
frequently causes a backlog of tankers heading for western markets.
Turkey's transit role is expected to intensify in the near future as
a number of
oil and gas pipeline
projects are lined up.
At least eight major existing or planned links transit the
country already.
Copyright © 2005 - Platts
Please visit:
www.platts.com
Their coverage of energy matters is extensive!!.
