Turkey's quest to become a regional energy hub: Challenges and opportunities.

ABSTRACT

Despite its relatively modest domestic energy resources, Turkey plays a central role in the global geopolitics of energy. Situated between energy-rich areas of the Middle East and energy-consuming Europe, it is no surprise that Turkey has become a crucial transit route for fossil fuels, especially natural gas. Furthermore, in recent decades, Turkey's leadership has pursued an ambitious plan to transform the country into a regional energy hub. This vision encompasses Turkey as a place where energy resources are not only transited but also sold and bought by international sellers and buyers. The study offers a historical overview of major transboundary oil and natural gas energy projects in Turkey, including both successful and failed endeavors and those in prospect. It delves into Turkey's aspirations to establish itself as a regional energy trade spot, a crucial component of its foreign policy agenda aimed at bolstering its influence on the regional and global stage. The paper also assesses the strengths and weaknesses of Turkey's ambition to become a regional energy nexus and its feasibility. The study highlights Turkey's potentially significant role in enhancing energy security for Europe, especially in the wake of the Russia-Ukraine conflict and the European Union's efforts to reduce its dependence on energy from Russia.