Turkish oil and gas

Overview

  • Turkey is well placed to serve as a hub for oil and natural gas supply headed to Europe.
  • Turkey has been a major transit point for oil and is becoming more important as a transit point for natural gas.
  • The country is also primed to become a significant natural gas pipeline hub.
  • Currently most of its natural gas pipeline connections only bring natural gas to the country.
  • Since 2010, Turkey has experienced some of the fastest growing energy demand among the OECD.
  • The economy has avoided the prolonged stagnation that has characterised much of Europe for the past several years.
  • Last year, Turkey’s total liquid fuels consumption averaged 712 000 bpd.
  • Over 90% of total liquid fuels came from imports.

Oil

  • Estimated proved oil reserves stood at 296 million bbls at the start of this year.
  • Petroleum and other liquids production peaked in 1991 at 85 000 bpd.
  • Most of Turkey’s 296 million bbls of proved oil reserves are located in the Batman and Adiyaman Provinces.
  • In 2014, Turkey produced an estimated 61 000 bpd of petroleum and other liquids.
  • Offshore and shale reserves may become a future source of Turkey’s oil supply.
  • Crude oil imports are expected to double over the next 10 years.
  • Last year, most of Turkey’s crude oil imports came from Iraq and Iran.
  • As of January this year, Turkey had six refineries with a combined processing capacity of 663 000 bpd.
  • Tupras is the country’s dominant refining firm and operates four refiners accounting for 85% of total refining capacity.
  • Tupras owns approximately 59% of the total petroleum products storage capacity in Turkey.

Natural gas

  • Natural gas reserves were at 218 billion ft3 at the start of this year.
  • Turkey producers only a small amount of natural gas.
  • Turkey is one of the few countries in Europe where natural gas consumption continues to show strong growth.
  • Gas consumption in Turkey has increased rapidly over the past 10 years and hit a new high of 1.7 trillion ft3 last year.
  • In 2014, Turkey imported 1.7 trillion ft2 of natural gas, accounting for 99% of total natural gas supply.
  • Russia’s Gazprom is the single largest supplier of natural gas to Turkey.
  • Turkey is Russia’s second largest export market for natural gas.
  • There is little or no natural gas storage capacity and the country primarily relies on increased imports.
  • Natural gas shortages are not uncommon in winter.
  • Companies importing natural gas into Turkey are required to hold rights to storage capacity equal to 10% to their annual imports.
  • In 2013, Turkey imported LNG from seven countries, accounting for 13% of total natural gas supply.
  • LNG volumes arrive at the country’s two terminals Marmara Erglisi and Aliaga.

Edited from a report by Claira Lloyd

Published on 09/07/2015


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