Europe / Caspian / CIS

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Summary | Profile

Country profile: Turkey

Location: Southeastern Europe and Southwestern Asia (that portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia
Climate: temperate; hot, dry summers with mild, wet winters; harsher in interior
Terrain: high central plateau (Anatolia); narrow coastal plain; several mountain ranges
Size: 780580 sq. km total (Land area: 770760 sq. km  Water area: 9820 sq.km)
Population: 71,892,807 (July 2008 est.)
Languages: Turkish (official), Kurdish, Dimli (or Zaza), Azeri, Kabardian note: there is also a substantial Gagauz population in the European part of Turkey
Government: republican parliamentary democracy
Capital city: Ankara
Legal system: civil law system derived from various European continental legal systems; note - member of the European Court of Human Rights (ECHR), although Turkey claims limited derogations on the ratified European Convention on Human Rights
Currency: Turkish lira (TRY); old Turkish lira (TRL) before
Licensing:

Country profile

Turkey experienced a strong economic recovery after a financial and currency crisis in 2001 that led to severe economic contraction. During 2005, Turkey's real gross domestic product (GDP) grew by 7.4 percent, down somewhat from the 2004 rate of 8.9 percent. For 2006, real GDP growth is forecast to ease to 4.6 percent, reflecting a number of factors that have slowed Turkish economic growth. These include depreciation of the Turkish new lira, a decline in Turkey’s stock market, rising inflation, and the country’s growing current account deficit. On October 3, 2005, the European Union (EU) began the formal accession framework for Turkey to become a full member of the EU, although this process is likely to take some time. Turkey will be required to undergo further economic reform and liberalization in order to meet EU membership requirements (for more information on Turkey’s accession framework with the EU, see the EU enlargement page ). Turkey lacks significant domestic energy resources. However, its location makes the country an important energy transit country, with the Bosporus Straits, through which Caspian oil passes en route to European markets; the Baku-Tbilisi-Ceyhan (BTC) Pipeline, the first transnational pipeline that transports Caspian oil without crossing Russian soil; and Turkey’s port of Ceyhan, which is the primary terminal through which Iraq’s northern oil exports pass (for more information, please see the Caspian Sea Brief , the Bosporus Oil Transport Chokepoint Brief , and the Iraq Country Analysis Brief ). In addition, Turkey’s relatively large population and growing economy have made the country a significant regional energy consumer in its own right.

Energy production and consumption


Oil Gas
Production: 45,460 bbl/day (2005 est.) 860 million cu m (2005 est.)
Consumption: 660,800 bbl/day (2005 est.) 26 billion cu m (2005 est.)
Exports: 112,600 bbl/day (2005 est.)  
Imports: 724,400 bbl/day (2005 est.) 25 billion cu m (2005 est.)
Reserves: 300 million bbl (1 January 2006 est.) 8 billion cu m (1 January 2006 est.)
Major fields:



Turkey - recent news

14 Jan 25
Turkey: Nordex Group receives orders for 638 MW from Türkiye in the 4th quarter and overachieves 1 GW order intake in 2024
In the Q4 2024, the Nordex Group received orders for a total of 97 turbines from Türkiye. With these orders the Nordex Group reached more than 1 GW of new orders in Türkiye in 2024.
07 Jan 25
Turkey: Trillion Energy announces completion of Alapli-2 gas well
Trillion Energy International has announced the successful installation of 2 3/8” velocity string tubing (VS) into the Alapli-2 natural gas well. This achievement marks a significant step in our ongoing efforts to enhance long-term gas production at the SASB field located in the southwestern Black Sea.
06 Jan 25
Turkey: Subsea7 awarded contract offshore Türkiye
Subsea 7 has announced the award of a sizeable(1) contract by Turkish Petroleum Offshore Technology Center (TP-OTC) to provide inspection, repair and maintenance (IRM) services for the Sakarya gas field development in the Black Sea.
04 Dec 24
EBRD loan to AKLease supports green financing
The European Bank for Reconstruction and Development (EBRD) is providing a €50 million loan to Türkiye’s AKLease, a longstanding partner in the country, for on-lending to sub-borrowers implementing green investments such as energy efficiency, renewable energy and climate resilience measures.
22 Oct 24
Turkey: TDI-Brooks completes geotechnical program offshore Filyos, Turkey - Black Sea
TDI-Brooks has successfully completed its fifth geotechnical investigation for DenAr Ocean Engineering S.A. The RV NAUTILUS was dispatched to the Black Sea from the US East Coast to facilitate this operation.

Turkey - more news

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