ANKARA: Turkey has a strategic role in natural gas transit because of its position between the world’s second-largest natural gas markets, the U.S. Energy Information Administration (EIA) said on Thursday. The country located between Asia and Europe is strategically placed for the transfer of natural gas reserves of the Caspian Basin and the Middle East to markets in continental Europe. In its country analysis published early February, the U.S. administration stated that as of Jan. 1, 2016, the Oil and Gas Journal estimates Turkish natural gas reserves at 177 billion cubic feet (Bcf). Turkey produces only a small amount of natural gas, with total production in 2015 amounting to 14 Bcf.
The analysis underlined that the country is an important consumer of natural gas as well as having potential to become an important natural gas transit country. Compared with European countries, Turkey is one those where natural gas consumption continues to show strong growth. This situation has helped the country develop multiple pipelines to both import and export natural gas.
