Hergüner Newsletter Winter/Spring Edition 2015

EDITOR'S NOTE

Turkey has long held a strategic position in the world, and as a fast-growing country, Turkey's energy demand is on the rise and energy consumption will likely continue to grow rapidly in the near future. The U.S. Energy Information Administration (EIA) has described Turkey as experiencing some of the fastest growth over the past three years in energy demand of the countries in the Organization for Economic Cooperation and Development (OECD). To meet this continued level of energy demand will likely require significant investments in the energy sector. It is believed that although Turkey is planning large investments in natural gas and electricity infrastructure, the Turkish government is looking to reduce the country's dependence on imported natural gas by diversifying its energy mix. With limited reserves, Turkey imports nearly all of its oil supplies.