Too early for shale gas boom in Turkey: chief economist

World Bulletin

It would be a big surprise if Turkey experienced a significant turnaround in shale gas production, similar to that in the US, in the short term, the International Energy Agency's (IEA) chief economist said at a conference on Friday in İstanbul, adding that it is too early to say whether shale gas production will be financially viable for the country.

Speaking on the sidelines of the 19th Energy and Environment Fair and Conference (ICCI), Fatih Birol said Turkey has “golden opportunities to be a crucial player in global energy markets within the next five years.”
“The issue of shale gas production is very new in Turkey. There are serious studies in this regard; however, we have not yet learned whether this type of unconventional energy will be competitive enough in Turkey,” Birol explained.

The IEA official added that despite early feasibility studies, it is not still clear if the cost of shale gas extraction will be cheaper when compared to simply importing natural gas from suppliers in the region. “We would welcome a US-like shale gas revolution in Turkey in the short term; this, however, would be a big surprise for us,” he added.

Excitement over the prospect of trillions of cubic meters of shale gas in Turkey has kept the country's agenda busy in recent years as these estimates mean that Turkey, which is almost completely dependent on foreign countries for fuel resources, could finally be energy independent.

International Energy Agency Chief Economist Fatih Birol: Nuclear power key to Turkish energy future

Turkey should build “as much nuclear power as possible” to help meet its growing energy needs, International Energy Agency Chief Economist Fatih Birol said in Brussels on Sunday night.

Speaking at the German Marshall Fund's Brussels Forum, the economist qualified his endorsement by saying that nuclear power should only be embraced “with attention given to seismic risks” that could unleash a Fukushima-style accident on Turkish soil.

Birol was unwavering in his endorsement however, saying that Turkey could employ the technology safely and use it to overcome its dependence on foreign fossil fuels. The argument that Germany and Japan are jettisoning the technology also didn't sway the economist, who was quoted as saying: “When we compare Turkey and Germany there are huge differences. In Germany, electricity demand won't even grow 1 percent this year. … But as for Turkey, demand is increasing very rapidly. From this perspective, Turkey must open nuclear power plants.”

His recommendation comes after Ankara's announcement this week that it will begin accepting bids for a newly proposed nuclear plant in the Black Sea province of Sinop. Birol's comments also come amid sustained criticism of Ankara's nuclear plans and a $25 billion nuclear facility planned for the southern province of Mersin, where activists say it faces an unacceptable risk of an earthquake.