Energy, Utilities & Mining industries in Turkey
Global growth and change are putting pressure on scarce energy and water resources like never before. The Energy, Utilities & Mining sector is in the spotlight as companies, governments and consumers grapple with issues such as security of supply, environmental impact and affordability.
The sector is on a voyage of major change, anticipating a world with a much wider range of technologies than at present and in which the shape of the industry has changed. Companies are seeking to extend their value chain both upward and downward in various countries and regions to secure supply and end-markets.
Turkey is an interesting and important market for international energy companies. The privatisation process of the Turkish EU&M market began 25 years ago and in 2001 the Energy Market Regulatory Authority (EMRA) began operations, regulating and supervising the Turkish energy sector.
PwC Turkey can help energy, utilities & mining companies evaluate priorities, assess risks and build stakeholder confidence. Our energy, utilities & mining practice focuses on delivering professional services to companies of all sizes, across all segments of the industry. We provide industry-specific solutions in the fields of audit and assurance, tax, transactions, performance improvement, human resources and crisis management to help companies address their business and stakeholder issues.
Turkey is playing an increasingly important role in the transit of oil and gas supplies to Europe from Russia, the Caspian region and the Middle East. Following the start of the Blue Stream, Baku-Tblisi-Ceyhan and Nabucco pipeline projects, Turkey has become an integral part of the international oil and gas market.
The privatisation process in the field of the state-run oil sector brought with it the need to restructure the market legislation. Therefore, the Oil Market Law, which regulates the Turkish oil market, was brought into effect.
Energy investments have vital importance in developing countries’ economies. Strong electricity demand growth in Turkey has put pressure on the country's existing infrastructure, necessitating significant investments in new generating capacity. The government began seeking private investment in newly installed generating capacity, offering incentives such as guaranteed power supply purchases. The Electricity Market Law, Natural Gas Market Law, and the Renewables Law underpinning the privatisation and liberalisation of the Turkish power sector, are designed to pave the way for the establishment of a free electricity generation and distribution market.
PwC is the world leader in audit, tax and advisory services, with extensive experience in the energy sector. PwC Turkey provides versatile advisory services that produce the most appropriate responses for the needs of firms, combining its experience in the local energy sector with far-reaching know-how and experience accumulated in the PwC global network.