Largely unaffected by the stagnation in most of the developed world, the Turkish economy has continued to grow and stands at $800 million today. Consequently, its demand for energy has increased and is expected to double over the next decade, according to the International Energy Agency. Natural gas accounts for an increasing share of the energy basket in Turkey. Its gas-generated electricity demand growth is estimated to be even higher
The agreement reached on September 14 in Geneva between the Russian foreign minister Sergei Lavrov and the American secretary of state John Kerry under UN auspices, over Syria’s chemical weapons does not end the war in Syria, it simply prolongs it. Under the terms of the agreement Syria’s chemical weapons must be eliminated by mid 2014 with stockpiles handed over to UN inspectors while a full scale military conflict goes on. Taking advantage of the lifting of any immediate threat of USA military strikes and international punishment on account of the regime’s alleged chemical attacks in Damascus on August 21, and following Mr. Obamas’ surprise decision to seek diplomatic settlement, Syria’s president Bashar al Assad has resumed and escalated artillery, air and infantry assault, against rebel held targets
In 2009, the year of the last dispute between Ukraine and Russia which lead to a European crisis, almost 80% of EU’s natural gas imports came from just three countries (Russia, Norway and Algeria).
One of the EU’s most ambitious infrastructure projects is getting closer to realisation, as a crucial decision looms on the route to be selected of a new major gas pipeline which will bring gas from the Caspian to the heart of Europe.
It has now been more than a year that we have been cautiously observing some positive signs which lead us to believe that some fundamental changes are at play in SE Europe’s, far from uniform, energy landscape.
In our latest monthly analysis, part of the Insitute’s "SE Europe Energy Brief”, we explained the basic parameters of the forced bankruptcy of the Republic of Cyprus following the Eurogroup conspiracy of March 15. What should have been a small scale rescue operation of an ailing bank suddenly turned into a major crisis, blown out of all proportions and thus becoming a worrisome instability factor for the whole euro zone
