Turkish power sector looks for COVID-19 restructure

Turkish power sector looks for COVID-19 restructure

Jon Gorvett
Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.

Egypt: Sisi’s power surplus

Egypt: Sisi’s power surplus

When Abdel Fattah El Sisi seized power in July 2013 Egypt was beset by chronic electricity shortages. Six years on, and total electricity generating capacity is nearly double the peak load. Much of the credit for this rests with the electricity minister, Mohammed Shaker, who was appointed in March 2014 before Sisi’s election as president, and with Sherif Ismail, who took over the petroleum ministry in July 2013 and set in place policies that stimulated a revival in the natural gas sector. However, the political dividends have accrued to Sisi, who can point to the turnaround in the energy sector as a notable achievement of his presidency – and as a justification for its extension.

East Mediterranean gas: an opportunity for closer cooperation

East Mediterranean gas: an opportunity for closer cooperation

Excitement over the discovery of several large natural gas fields in the Eastern Mediterranean at the beginning of this decade was greatly tempered by the fields’ close proximity to two of the world’s most intractable geopolitical conflicts – the Arab-Israeli conflict and the Turkish/Cypriot dispute – and further complicated by the Arab Spring revolts.  While the geopolitics continues to prevent the fields reaching their full potential a decade later, much has changed – most notably, plans to hard wire gas developments together, which could make them more financially viable and create an important regional gas hub.