Fast Market Research recommends "Turkey Oil & Gas Report Q3 2014" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 06/09/2014 --BMI View: Turkey will remain heavily dependent upon oil and gas imports for the foreseeable future. However, its role as a critical energy transit hub between Europe, the Eastern Mediterranean , the Middle East, the Caspian and Russia provides it with a unique form of leverage and makes it a key player in the global energy market. The decision to proceed with the TAP and TANAP natural gas pipelines cements Turkey's position as a critical transit country , and also secures 6bcm of new supplies for Turkey's domestic market. There is also upside potential to the country's domestic energy production in the form of Black Sea resources and unconventional development s , although it remains too early for either to be factored into our forecasts. M ounting investment into exploration activities underscores the government's growing commitment to increasing its own domestic resource base.

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The main trends and developments we highlight for Turkey's oil and gas sector are:

- The SOCAR-led STAR refinery received a further boost after reportedly agreeing a further USD500mn in financing in March 2014. Turkey is expected to be one of the few countries in Europe to see an increase in refining capacity with the STAR facility looking increasing likely to move to the construction phase.
- Turkey's improving relationship with Iraq is providing a potential major new source of imports. However, a new pipeline connecting the region of Kurdistan directly with Turkey is now in place, though due to this begin separate from Baghdad controlled monitoring stations exports have been deemed illegal. . Turkey has stipulated that a go-ahead from Baghdad is required before oil is officially exported, yet the wait for an agreement between Erbil and Baghdad is delaying fuel import diversification efforts.
- In November 2013, a 10bcm gas supply agreement was made between the Turkish Government and Genel Energy, which owns the 100bcm Miran gas field in Kurdistan, increasing...

The Turkey Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Turkey including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Turkey Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Turkish oil and gas industry.

Key Benefits

- Benchmark BMI's independent oil and gas industry forecasts for Turkey to test consensus views - a key input for successful budgeting and strategic business planning in the Turkish oil and gas market.
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