Rawi Abdelal, Esel Cekin, Cigdem Celik
Harvard Business School (715042-PDF-ENG)
March 11, 2015
In December 2014, Russia canceled the South Stream pipeline, which was supposed to deliver natural gas through the Black Sea basin to Europe, and replaced it with a new pipeline through Turkey. The Turkish current was a great opportunity for Turkey to become an energy center for its region. TANAP had already secured a gas pipeline to transport Azerbaijani gas to Europe via Turkey. The country’s geographic location was one of its key advantages: 70% of the world’s natural gas reserves were located in the east, including Russia, Azerbaijan, Turkmenistan, Iran, Iraq, and the eastern Mediterranean basin. To the west was Europe, one of the world’s largest energy consumers. If the Turkish Stream and TANAP pipeline projects were carried out and connected to other potential energy reserves in the wider region, would it likely that Turkey would eventually become one of the most important energy corridors in Europe or even a a center? Was it less risky to remain a transit country and secure your own energy needs at potentially lower prices? What are the consequences of an even greater dependence on Russian gas through the Turkish stream? Could Turkey prioritize economic benefits and use the resources available in its south?
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