Will Shale Gas Eventually Make Turkey Energy Independent?
Turkey’s booming economy faces one major constraint – a lack of hydrocarbon resources.
At least up to now.
The U.S. government’s Energy Information Administration notes in its report on Turkey, “Over the last two years, Turkey has seen the fastest growth in energy demand in the OECD, and unlike a number of other OECD countries in Europe, its economy has avoided the prolonged stagnation that has characterized much of the continent for the past few years. The country's energy use is still relatively low, although it is increasing at a very fast pace. According to the International Energy Agency (IEA), energy use in Turkey is expected to double over the next decade, while electricity demand growth is expected to increase at an even faster pace. Meeting this level of growth will require significant investment in the energy sector, much of which will come from the private sector. Large investments in natural gas and electricity infrastructure will be essential.”
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