Turkeys Oil Trade and Tanker Shipping

Figure 1 : Turkish Oil Production , Consumption and Imports Source : Business Monitor International Ltd A (2008

The figure above shows that oil production of Turkey goes down as years passes while its oil consumption continues to increase . Corollary with this is its increasing oil imports as well . On the other hand , the gas sector also faces the same fate , as presented by the figure below

Figure 2 : Turkish Gas Imports

Source : Business Monitor International Ltd A (2008 This figure tells that Turkey is experiencing and will further experience increased demands for gas

, hence also increasing its imports Ninety percent of the oil supplies of the country are imported from Middle East and Russia . Its port , Ceyhan is one o the major outlets of Iraq 's oil exports but due to the emerging terrorist activities in the Middle East , such also has been frequently disrupted . In terms of the country 's primary energy demand (PED , the country is reliant to its oil , gas and coal reserves . The country has neither nuclear capability nor the hydro-electric power that could somehow provide them a competitive advantage . As of 2007 , the country 's share in the energy market is estimated to be 6 .87 (Business Monitor International Ltd B 2008

Albeit , even if Turkey has been perceived to have a poor supply of oil and gas , the country serving as a middleman for oil exports in the Middle East provides a competitive advantage . For instance , Turkey 's relationship with Iran and the use of pipelines to bring gas to the country and eventually provide its supply to Europe is strategically important as its role as an "energy bridge " within Asia , Middle East and Europe (Business Monitor International Ltd E , 2008 . The main exports of Turkey of oil and gas that is enhanced through its role...