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Summary:

In this episode, we detail Turkey's emergence as a crucial energy transshipment hub, particularly following the imposition of sanctions on Russia after 2022. This rise is attributed to Turkey's strategic geographic location, allowing it to leverage existing pipeline infrastructure like TurkStream and TANAP to redirect Russian and Caspian energy flows towards Europe. New partnerships, especially with Turkmenistan, aim to diversify Turkey's energy sources and enhance its role as a transit nation. While Turkey has experienced economic gains through transit fees, it faces challenges including reliance on Russian gas, scrutiny over potential sanctions evasion, and the long-term implications of Europe's green energy transition.

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EP173: How Turkey Turned Russian Sanctions into an Energy Empire