" /> > Energy is reason Europe looks the other way in matters Erdogan | Hallmarknews
Published On: Mon, Aug 1st, 2016

Energy is reason Europe looks the other way in matters Erdogan

By Adebayo Obajemu

It is fast becoming salon talk that Tayep Erdogan may have been the most powerful, wily leader of Turkey since Mustafa Kemal, founder of modern Turkish state. A lot of people across the globe are tired of the antics of the principal demolisher of the Ataturk’s legacies in Turkey, not least European leaders, but economy at times has a way around politics, so these leaders have no choice but to line behind Erdogan, the dictator of Turkey because of the lure of energy of people in Europe are wondering why political leaders on the continent seem to be ready to agree with whatever Turkish President Recep Tayyip Erdogan says, and do anything he demands.
Many resent Erdogan’s arm-twisting approach to the migrant crisis and worry about Turkey going the way of dictatorship.
Now, the attempted coup by the Turkish military a week ago has become the latest event to highlight Turkey’s major role in the global energy market and the implications of any political shakeup in the country for this same market.
The Bosphorus is where around 3 percent of daily global crude oil shipments pass, or some 3 million barrels. This may not be a lot in percentage terms, but for Europe it accounts for well over a quarter of its total crude oil imports.
Europe imported 1.559 barrels from the former Soviet Union last year, or an average of 4 million barrels daily, according to European Commission figures.
Besides the Bosphorus, Turkey is also home to two pipelines for Caspian and Iraqi crude, as well as the Southern Gas Corridor, which should provide Europe with an alternative source of natural gas in hopes of undermining the leading position of Russia’s Gazprom on the European market.
There is also the Ceyhan port, Turkey’s main crude export terminal. This is where the two pipelines from Azerbaijan and Iraq end up, and this is also allegedly where a lot of ISIS oil ends up.
In short, Turkey is already a major hub for oil and gas coming from the Middle East and Central Asia, and its importance in this respect will only grow as new projects—especially gas projects—come online.
Then there is the Syrian war, and Turkey’s vested interest in it in light of plans for a pipeline that would carry gas from Qatar to Turkey, and from there, on to Europe.
This pipeline would serve the geopolitical interests of Saudi Arabia, helping it to get the upper hand over Iran, which, now that most of the economic sanctions against it have been lifted, is eager to return to the global energy market.
It would also, some would argue, serve U.S. geopolitical interests by once again undermining Russia’s dominance as gas supplier to the European continent. These geopolitical interests largely overlap with European ones. The European Union (EU) has made it abundantly clear that it wants a variety of energy supply sources. Natural gas is especially important as a cleaner and cheaper alternative to crude.

Europe will need more gas in the years to come, and it doesn’t want it to come from Russia—or at least not so much of it.
This is why Europe is tip-toeing around Erdogan; and this is why European leaders seem to dance to any tune Ankara’s boss plays.
That’s also why European leaders were not too enthusiastic when the attempted coup failed, despite official declar
ations in support of Erdogan’s government. They did have enough dignity left to warn him to watch himself when dealing with the coup plotters; yet one cannot help but ask: what is Europe going to do if Erdogan decides to re-introduce the death penalty, especially for them? What is it going to do if he uses the coup to further curb civil rights and cement himself at the helm? Refuse to admit Turkey into the European Union? Not a big deal as far as Erdogan and his vision of a new imperial Turkey that dominates the region are concerned.
Erdogan will in all likelihood be the new master of the European gas tap. It’s ironic how democratic Europe seems to be forever dependent on dictators for its energy, at least until it goes fully renewable, which is not going to happen any time soon.
Now, for how long will this kind of scenario subsist? In Turkey today, the secularist values that have brought progress and modernity to the country have been frontally assaulted with major battery of bullets persistently pointed in the way of intellectuals, artists—writers, journalists and dissenters of all kind who dare disagree with the official line—as they are dubbed Gulenists(after Fethullah Gulen, Erdogan ally turned foe who now lives in exile in the United States.
The army has been effectively contained by the wily president who has been showing traits of imperial ambition.
Turkey is totally unrecognizable as there are on-going efforts to blot out traces of freedom and independent mind under the guise of promoting Wahhabist Islamic , traditional value, but in fact, everyone recognizes the ulterior motive behind this grandstanding, which is squarely political- to aggrandize as much power as possible and if possible build Erdogan dynasty oiled by fearful personality cult.
But the lesson of history is that Erdogan’s efforts are running against the currents of history and in no times same will expose their follies.

Facebook Comments

comments

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Recent posts

  • Arms seizure raises concerns over proliferation of security agencies at ports

    By FUNSO OLOJO The interception last Sunday by the Nigeria Customs Service of cache of high calibre arms made up of 661 units of brand new Tomado pump action rifles on the street of Lagos has once against raised serious concerns among the agitated industry stakeholders who have now renewed their calls for the review […]

  • Michael Ajayi: The bridge-builder bows out of NPA

    FUNSO OLOJO “I am a Marxist-socialist who believes that a common man deserves a better life”. That is the philosophy which underpins the life and actions of Chief Micheal Kayode Ajayi, the retiring General Manager of Nigerian Ports Authority(NPA). The ebullient image-maker of the super-rich government agency bows out of the organization this March after […]

  • N4bn 7UP loss exposes rot in real sector

    Okey Onyenweaku Seven up Plc, in a result that has kept investors shuddering, recently posted a mind-boggling N4.8b loss for the third quarter of the year 2016. The result, a total collapse from its 2015 third quarter profit after tax of N2.2b, signposts one of the worst operating performances for the carbonated soft drink manufacturer […]

  • Skye Bank crisis worsens

    …customers, shareholders’ express anxiety Okey Onyenweaku Against the background of an implosion in the earnings of commercial banks in Nigeria, Skye Bank Plc has again grabbed headlines for unsavory reasons. Indeed, emerging developments in the bank underscore a deepening operating and management crisis and has set up the stage for an epic battle to save […]

  • First Bank leads four Nigerian banks in Top 500 Global Banking Brands

        First Bank of Nigeria Limited has been named as the most valuable banking brand in Nigeria in The Top 500 Banking Brands of The Banker magazine of the Financial Times  and Brand Finance, London, United Kingdom for the sixth consecutive time.   According to a press release issued on Sunday by the Country […]

  • N4bn loss: Guinness Nigeria faces more challenges

    Okey Onyenweaku The once cheerful faces of shareholders of Guinness Nigeria Plc has suddenly turned gloomy as their company’s fortunes continues to fall into a never-ending hole. Unable to ride on the back of an increasingly weaker consumer market for alcohol, the company found its 2016 financial statement dipped in red ink as it posted […]

  • Forex crisis: $30bn loan in jeorpady

      Okey Onyenweaku Anxiety is beginning to cloud the possibility of international lenders to give Nigeria the $ 30 billion she needs to restructure her sagging economy. The Nation’s economy which slipped into a recession in the first quarter of 2016 has continued to deepen the government’s desperation for far reaching solutions. The recent drop […]

  • Anxiety over Banks’ year end results

    Okey Onyenweaku Anxiety has begun to drench the expectations of analysts and other stakeholders alike as they continue to fret over the release of year end 2016 results for banks listed on the Nigerian Stock Exchange (NSE). The anxiety of investors reflects the adverse impact a full year of falling gross domestic product (GDP) growth […]

  • Prospects of market recovery bleak

      .           Stocks lose N4trn in 3 years; Blue chips shed 47% value Okey Onyenweaku Nine years after the melt down of global financial markets in 2008, the Nigerian stock market has taken a frightening tumble as the Nigerian All Shares Index (ASI) dropped by an astonishing 60% or -10.7% per annum on a compound […]

  • NICON Insurance, micro finance banks sign MoU to boost Nigeria’s business frontiers

      NICON Insurance has signed a memorandum of Understanding with the National Association of Micro Finance Banks (NAMFB) in order to stem the harsh effects of economic recession on small scale businesses in the country. The pact, sealed by NICON with the umbrella micro finance body, composed of 978 members, is said to be targeted […]

  • Lloyd’s threat: Anxiety as AON struggles to save Nigerian airlines

    There is unease among domestic airlines in Nigeria following a threat by Lloyd’s of London, the world’s leading insurance market, to blacklist them over irregular payment of premiums. This is another unfortunate consequence of a biting economic recession Nigeria is currently undergoing which has among other things thrown the nation into acute shortage of foreign […]

  • Ports get harmonised support portal

      Maritime activities closed last Friday with the Nigerian Ports Authority (NPA) saying the nation’s ports are ready to absorb increase in imported vehicles expected from government’s ban on importation of vehicles through land borders. The Managing Director of NPA, Ms Hadiza Usman, gave the indication in Lagos to mark her 100 days in office. […]

  • NDIC, CBN set up committee to study digital currency

      The Managing Director, Nigeria Deposit Insurance Commission (NDIC), Alhaji Umaru Ibrahim, has said that the commission and CBN had set up a committee to look into the trending “digital currency, ‘Bitcoin’. Ibrahim said this at the ongoing 2016 Workshop for Financial Correspondents in Kaduna. The theme of the workshop is “Economic Recession and the […]

  • Rice smuggling thrives in spite of ban

      The smuggling of rice through the land borders has continued to thrive in Badagry area of Lagos State in spite of the Federal Government’s ban on the practice. Markets along Badagry Expressway close to Seme border, are stocked with various varieties of smuggled rice, especially as the Christmas season approaches. A smuggler, who identified […]

  • Ugwuanyi’s fate hangs in the balance as Appeal Court fails to decide

    The protracted legal tussle between the Enugu State governor, Hon. Ifeanyi Ugwuanyi and former senator representing Enugu North senatorial zone, Ayogu Eze is poised to last longer than anticipated as the Appeal Court sitting in Abuja and presided over by Justice Tinuade Akomolafe-Wilson last week Thursday, reserved judgment on an appeal filed by Eze seeking […]

  • Hallmarknews Backpage

    On November 8, 2016 Americans elected Donald Trump as their 45th president.  By the time you’re reading this, Mr. Trump would have named all his nominees for leadership of various government departments. The president-elect, who will be inaugurated on January 20, 2017, has not only unveiled the lineup of his cabinet, he has also specified […]


Take a Poll

Please wait...

Subscribe to our newsletter

Enter your email address and be the first to know when our article is published.