Last Friday, September 2, IENE sent to its members its «Monthly Analysis» report which focused on the impact of the July 15 failed military coup in Turkey on the country’s energy sector and its position in the regional and global energy landscapeLast Friday, September 2, IENE sent to its members its «Monthly Analysis» report which focused on the impact of the July 15 failed military coup in Turkey on the country’s energy sector and its position in the regional and global energy landscape.
The failed coup, against the country’s democratically elected government and the putschists’ attempt to oust President Tayip Erdogan, has naturally raised concerns over the country’s ability to continue to function as a key regional energy hub and also provide safe passage for energy flows destined to European and international markets. Turkey can be regarded as an important energy bridge over which vast energy supplies, mostly oil at present, move daily from East to West in order to satisfy global needs.
The purpose of this latest IENE’s analysis is to examine to what extent if any, the transiting of oil and gas supplies has been affected in the post-coup environment and if there is likely to be any short- or medium-term impact and to what extent Turkey’s own energy supplies have or will be affected. Turkey’s current position as a major regional energy hub is analyzed and discussed at some length as its energy transiting role is regarded as key for the further development of energy corridors, and gas in particular, in view of ongoing projects (i.e. TANAP-TAP system, Turkish Stream etc).
Furthermore, there is an in-depth analysis on the impact of the failed military coup attempt on Turkey’s economy and international oil prices, following a brief and concise description of current energy situation in Turkey.
This analysis was contributed by Costis Stambolis,
Executive Director IENE and Dimitrios Mezartasoglou, Research Associate IENE.
