February, 2016 Energy


GWYNNE DYER, The Japan Times
LONDON – “The market can stay irrational longer than you can stay solvent,” said John Maynard Keynes (or maybe it wasn’t him, but no matter). At any rate, that was the eternal verity the Saudi Arabians were counting on when they decided to let oil production rip — and the oil price collapse — in late 2014.

Turkish Prime Minister Ahmet Davutoğlu (right) meets with Azerbaijani President Ilham Aliyev on Jan. 20 in Davos to discuss the conflict over Nagorno-Karabakh, economic cooperation and other regional issues. Turkey receives 6 billion cubic meters of gas from Azerbaijan annually - about 75 percent of the Caucasus country’s annual exports. (Photo: Turkish Presidential Press Service)

 by Dorian Jones and Durna Safarova 

With Russian-Turkish relations bottoming out after Turkey’s downing of a Russian military jet last November, Ankara is scrambling to reduce its dependency on Russian gas. But the help it needs from post-Soviet energy producers may not be swift in coming.