Iraq: Turkey’s Energy Trump Card, Summer 2012

Wednesday, September 5, 2012 | Download PDF in English

Turkey’s impressive economic growth has been fueled by soaring energy consumption which is likely to continue over the years to come. However as Turkey risks to increase its current account deficit by five billion dollars with each ten dollars added to the current price of oil, its import-reliant energy bill is becoming unsustainable. Assessing domestic challenges against emerging regional and international opportunities, this article will argue that Turkey can secure more profitable terms for its fossil fuel imports, providing it reconsiders its foreign policy options. In this context, a politics of engagement with northern and southern Iraq may help Ankara gain greater strategic lever in its relationship with traditional oil and gas suppliers, such as Russia, Iran, and Azerbaijan.

CONTRIBUTOR

Aura Sabadus

TPQ SPONSORS

FROM THE DESK OF THE EDITOR

Brazil, Russia, India, China, and South Africa, or the BRICS nations, are living proof of how power and influence are constantly changing in the world's politics and economy. Redefining their positions within the global system and laying the groundwork for a multilateral world order that aims to challenge the traditional dominance of Western economies and institutions, the BRICS countries have...