86
ity to transit additional gas. Investments needed for boosting these systems represent an additional challenge to the realization of new energy projects across Turkey
(Shaffer 2010:7212–7214).
India
India’s rapid development over the last decade, along with its population growth and
rising living standards has meant that the country is now the world’s fourth-largest
energy consumer after the United States, China, and Japan. To sustain its annual 8%
economic growth, the country is in dire need of energy. According to some studies,
the number of vehicles in India will reach 200 million by 2030. As well as the country’s dependence on oil imports, by 2030, the figure will be between 65% and 90%.
India’s economy has grown at an average annual rate of approximately 11% between
2004 and 2014, and it proved relatively resilient following the 2008 global financial
crisis (www.eia.gov 2017a, b, c, d).
India’s Energy Strategy
In 1997, the Energy Committee of the Parliament of India declared that “the most
important problems in the energy sector are the lack of a long-term policy, which
leads to inefficiencies in the supplying and use of energy.” Attempts to design a
long-term strategy began, in this regard, in 1999, with the drawing up of a document
entitled “Vision Hydrocarbons 2025” (Ebinger 2016:19–43). This document was
officially released in February 2000, after details were agreed upon regarding the
supply and demand of oil and gas expected by 2025, as well as important issues
related to energy security, including the combination of energy sources, energy conservation, environmental pollution, technological developments, the security of
pipelines, and paving the way for dialog and regional and global cooperation. The
most important pillars of India’s energy strategy in accordance with the document
can be expressed as follows (Ebinger 2016:19–43):
• Encouragement of domestic oil and gas companies to enter the global market.
• Liberalization of the oil industry, both upstream and downstream, to facilitate
private sector participation.
• Rationalization of oil and natural gas prices passed through the elimination
mechanism.
• Reform of the power sector toward the production of electricity, including transmission and distribution structures, and foreign private sector participation in
power generation.
• Rationalization of the price of electricity, coal, natural gas, oil, and LNG through
the elimination of duties and taxes on transit and compliance with WTO rules.
3 International Context of the New Era and the Caspian Sea Region
ity to transit additional gas. Investments needed for boosting these systems represent an additional challenge to the realization of new energy projects across Turkey
(Shaffer 2010:7212–7214).
India
India’s rapid development over the last decade, along with its population growth and
rising living standards has meant that the country is now the world’s fourth-largest
energy consumer after the United States, China, and Japan. To sustain its annual 8%
economic growth, the country is in dire need of energy. According to some studies,
the number of vehicles in India will reach 200 million by 2030. As well as the country’s dependence on oil imports, by 2030, the figure will be between 65% and 90%.
India’s economy has grown at an average annual rate of approximately 11% between
2004 and 2014, and it proved relatively resilient following the 2008 global financial
crisis (www.eia.gov 2017a, b, c, d).
India’s Energy Strategy
In 1997, the Energy Committee of the Parliament of India declared that “the most
important problems in the energy sector are the lack of a long-term policy, which
leads to inefficiencies in the supplying and use of energy.” Attempts to design a
long-term strategy began, in this regard, in 1999, with the drawing up of a document
entitled “Vision Hydrocarbons 2025” (Ebinger 2016:19–43). This document was
officially released in February 2000, after details were agreed upon regarding the
supply and demand of oil and gas expected by 2025, as well as important issues
related to energy security, including the combination of energy sources, energy conservation, environmental pollution, technological developments, the security of
pipelines, and paving the way for dialog and regional and global cooperation. The
most important pillars of India’s energy strategy in accordance with the document
can be expressed as follows (Ebinger 2016:19–43):
• Encouragement of domestic oil and gas companies to enter the global market.
• Liberalization of the oil industry, both upstream and downstream, to facilitate
private sector participation.
• Rationalization of oil and natural gas prices passed through the elimination
mechanism.
• Reform of the power sector toward the production of electricity, including transmission and distribution structures, and foreign private sector participation in
power generation.
• Rationalization of the price of electricity, coal, natural gas, oil, and LNG through
the elimination of duties and taxes on transit and compliance with WTO rules.
3 International Context of the New Era and the Caspian Sea Region