Occupying a key strategic position between Europe and the gas resource-rich Caspian and Middle Eastern states, Turkey has long aspired to become a regional energy hub. This hope has been given wings following the cancellation of the South Stream project, and the completion of an MoU to import 63 Bcm/year of Russian gas via the proposed ‘Turkish Stream’ pipeline. These volumes could accompany future Azerbaijani flows through Turkey to be exported via the mooted Trans Adriatic Pipeline (TAP), or at a future hub on the Greek border. Meanwhile, a revision to Turkey's 2001 Natural Gas Market Law (NGML) is before the parliament, raising hopes that Turkey could seriously revisit its stultified liberalisation process – largely intended to reduce the market share of incumbent BOTAS and facilitate increased LNG imports. But obstacles, delays and uncertainty continue to fuel doubts over prospects for international investment. Gas Strategies spoke to projects and finance partner Yesim Bezen and associate Onur Oksan of Istanbul-based law firm Bezen & Partners (B&P), and discussed some of the key themes in Turkey’s evolving gas industry.
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