Turkey has one of the largest energy markets in Europe. The significant growth in its economy, population, urbanization, and industrialization has recently caused a rapid increase in the energy demand of the country. The average annual increase rate in its energy need since 1990 is 4.6 percent.1 The annual energy need of the country is envisaged to double in 10 years and to grow annually by 4.5 percent until 2030.2 Since the country does not have sufficient domestic energy resources to meet its energy demand, it has to import around 75 percent of its energy requirements. Turkey needs to import around 98 percent and 90 percent of its gas and oil supplies, respectively. Although some volatility has been seen in the oil and gas imports parallel to the economic growth of the country, Turkey’s oil and gas imports have been increasing.