Turkey as a Regional Energy Hub

Turkey has so many factors operating in favor of it becoming one of the world’s great energy hubs – and yet there are so many reasons why it may completely fail to fulfill such a goal. The country’s inherent geography – its classic position as a crossroads between east and west, between north and south – makes it natural to become a giant center for trading in oil, gas and petrochemicals. But its attitude – the accumulation of its foreign policy, its approach to energy transit and to internal energy development, and its own uncertainty as to its place in the world in general and its involvement in Europe in particular – tells quite a different story. The future of Turkey as a gas trading hub lies very much in Turkey’s own hands. For such a hub to emerge will require Turkey to opt for domestic market liberalization over statism (étatism).