Essay --

Due to this impressive growing economy, Turkey is now one of the fastest growing energy market of the world. Only in the last decade Turkey was the second country after China, with the biggest gas and electricity demand increase. According to the Ministry of Energy and Natural Ressources: † between 1990 and 2008 in [Turkey], annual average rate of increase in primary energy demand was realized as 4,3% .†1 As the Turkish Ministry of Foreign Affairs states it : â€Å"Turkey is expected to become one of the most dynamic energy economies of the world in terms of increase in energy demand†.2 The Population increase, the urbanization and industrialization of Turkey as a result of its liberalization and entrance to the globalization gave birth to a continuous increase in the demand for energy and natural ressources. As we have seen the economical changes of Turkey in the last thirty years have lead Turkey to become a big â€Å"energy eater†. However Turkey is not the only one with an increasing energy demand, as the International Energy Agency states that if the current trend goes on, the primary energy demand of the world will increase by 40% between 2007 and 2030.3 Therefore Turkey is not only becoming somehow â€Å"addicted to energy import† it is also becoming so in a future very competitive market. Current energy situation : a big economical dependency stats: The energy imports are one of main cause of the current balance of payment issue in Turkey. The country's energy import have increased a lot more faster than the exports have. In 2010 almost half of the country's foreign trade deficit, or the balance of payment deficit was due to energy imports which costed $40 bilion.4 As the Ministry of Energy and Natural Ressources sources explains it ... ...uted less than 1 percent of Turkey's imports, while exports were about 5 percent of the total. . Description: The traditional important exports of Turkey's economy used to be Textile and agriculuture. However a rising importance of other new and modern sectors has happened, such as in the automotive, electronic industries or the construction sector. This is due to newly born middle-class of entrepreneurs conveying dynamysm to Turkish economy and innovation.. 10 Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs