On 11 March 2015, the Juncker Commission announced that it plans to tighten cooperation with several nations, including Turkey, for a more diverse energy sector.
The announcement of partnership draws on the EU’s Energy Union Package, communicated on 25 February, which strategy proposes closer coordination of Member States to ’enable a free exchange of energy to ensure a more secured supply throughout Europe’.
EU customers get about one-third of their gas supplies from Russia, and half of that flows through pipelines in Ukraine.
Central Asian countries like Kazakhstan, Azerbaijan, Turkmenistan, Russia and the Caspian Sea are known to hold the world’s third largest oil and gas reserves after the Middle East and Americas. Turkey’s geographical position, combined with its political and military ties to the West, makes it the obvious choice for a stable energy channel.
In its statement the European Commission said that ’Turkey is to become an important transit country as its Trans Anatolian Natural Gas Pipeline, TANAP, project is part of the Southern Gas Corridor’. The Southern Gas Corridor will carry natural gas sourced from Azerbaijan through Turkey to reach Greece on to Albania and Italy.
Get involved in the Law Society’s activities in Turkey and take a look at our work in the Central Asia region - book a place for the legal market visit from Central Asia to London, from 30 June – 1 July 2015.