The Turkish oil market is a highly regulated liberal market, whereas steps to liberalise the natural gas market have not been taken. BOTAŞ still controls natural gas supply and trade. Even though the private sector has a limited effect on supply, private natural gas trade and distribution companies play an active role in the market. Gas exploration and production projects are still attractive to the private sector.
When the Trans Anatolia and Turkstream Pipeline projects are completed, Turkey will have gone one step further towards its dream of being a transit country for natural gas.
The acquisition of Petrol Ofisi by Vitol and Socar’s Star Refinery project signal that foreign investors’ trust in the Turkish oil industry persists. If you need a reliable partner in Turkey’s attractive natural gas and oil markets, we are here.
Energy, Utilities and Resources Industry Leader, PwC Turkey
Tel: +90 212 326 6450