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SUPPLY
Turkish oil production peaked in 1991. The country’s
geology is complex and its fields are difficult to exploit. There thus
seems little chance that significant new fields will be found onshore
and Turkey’s Black Sea oil exploration programme has seen limited oil
success. Decline in output will continue.
Onshore gas production began in 1983 and the few fields discovered have
similar problems to those of oil. However, offshore some new gas
prospects have been identified in the Black Sea, which began producing
in 2007, and the Mediterranean Sea. There also may be potential in the
Aegean Sea, disputed with Greece. Increases in offshore gas output are
eventually forecast.
DEMAND
 Turkey
is a big importer of oil and consumption is increasing as the economy
improves although only slowly since 2008 and consumption is likely to
begin falling after 2016.
The country is actively engaged in substituting gas wherever it can and
gas imports, are increasing rapidly. Piped gas can be delivered into
Turkey from many sources, including Russia and Azerbaijan in the east
and Iran in the south. Gas is also imported as LNG from Algeria and
Nigeria.
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