Turkey holds a strategic role in natural gas between the
world's second largest natural gas market, Continental Europe,
and the substantial gas reserves of the Caspian Basin and the
Middle East. For over a decade, Turkey has sought to capitalize on
its advantageous geography by establishing itself as an energy
bridge between these major gas-consuming and gas-producing regions,
as natural gas need of Continental Europe has been increasing day
by day.1
The most significant legal regulation that governs the natural
gas sector in Turkey is the Natural Gas Market Law No. 4646, which
was adopted on April 18th, 2001. As it is stated, the
purpose of the law is "to create a financially strong, stable
and transparent natural gas market through liberalization of the
natural gas market in order to provide consumer with high-quality,
continuous and affordable natural gas within the framework of
competitive principles and to ensure an independent regulation and
audit on the
