Turkish energy markets have been undergoing tremendous changes in the last decade. These include liberalization, opening up to private participation and restructuring to establish a competitive market. Having witnessed a sharp and continuous increase in almost all forms of energy demand, the economy is in need of vast amounts investment to meet this growing demand. Turkish policymakers have top-prioritized the increasing role of private sector in making the necessary investments in the energy sector to meet the growing demand. To this end, a very favorable investment environment has been established and the necessary legal and regulatory steps have been taken.
The market opportunities can be analyzed in four different aspects:
• Electricity Market
• Natural Gas Market
• Oil and LPG Markets
• Green Opportunities
Turkey still lags behind the developed countries in terms energy consumption per capita. With its rapid and stable economic growth, Turkey is expected to catch up with the developing world in per capita energy consumption in the forseeble future since higher levels of per capita energy consumption is one of the major tenets of the developed economies. In order to reach advanced levels of per capita energy consumption, Turkey needs vast amounts of infrastructure to be built and the financial resources to fund the necessary investments to get these projects on line. In full concert with Turkish policymakers’ priorities and policy goals, these investments are increasingly being financed by private sector in a fully competitive, transparent and highly predictable market structure. Owing to the ongoing reform process, the energy sector has become the rising star of Turkish economy and an attractive venue for potential investors. The policies adopted and the espoused principles paved the way for a more transparent and predictable investment environment in Turkish energy sector. The commitment to the reform process has been repeatedly announced by Turkish policymakers at every level in every instance. One of the decisive features of the success of the reform process has been the commitment of the Turkish policymakers and their insistence on the rapid application of the adopted rules and regulations. The investment opportunities created by the reform process is too attractive for the potential investors to ignore.