Turkey's energy dilemma amid the Russia crisis

The latest diplomatic crisis with Russia, which started when a Russian airplane was downed by Turkey on Nov. 24, has exposed many significant points about the fragility of the situation in the region. One of the most crucial points that this crisis has shown is Turkey's urgent need to diversify its energy sources. 

Maintaining energy security is a serious business and reaching an energy mix that is as diverse as possible is key for any country in maintaining its economic growth and sustaining its people's daily lives. 

The latest crisis with Russia has unfortunately indicated how Turkey is in a bad position, as the country is very dependent upon Russian energy sources. According to data from Turkey's energy watchdog, the Energy Market Regulatory Authority (EPDK), Turkey met some 54.76 percent of its natural gas demand from Russia in 2014, some 26 billion cubic meters (bcm) of its total 50 bcm gas imports. What is more, around half of Turkey's electricity production is made using natural gas. This means that in the case of any halt in the Russian gas flow into Turkey, electricity production will go through hoops, as well as people's heating needs, just ahead of the winter months. 

Turkish officials are now in an obvious effort to seek new energy alternatives. Such moves need to be appreciated, although sources from Russia's Gazprom have said there would be no halt in the gas flow to Turkey. 

The point is, however, that such moves were needed to be taken much earlier. Allow me to elaborate.  

First of all, in a country which is almost 100 percent dependent on foreign countries for energy like Turkey, there needs to be big gas storage capacities, more than 20 percent of their annual consumption. 

In Turkey this...