The role of Greece and Turkey as energy hubs in the region

The Greek-Turkish relations have been complex in different aspects for a long time. However, neighborhood makes these countries close to each other in political, military and economic terms. Geopolitical location of Turkey makes it strategically important for Greece. Despite of the economic crisis in Greece bilateral trade between these two countries almost doubled for the last five years. Energy and minerals are significant part of this trade and it is expected that natural gas will be one of the most important determinants of the bilateral trade. The energy products trade is two sided and creates strategic meaning for both countries. This chapter analyzes energy markets in Greece and Turkey separately and the Greek-Turkish relations in terms of energy. Completed natural gas pipeline of 296 km connects Turkey and Greece and delivers natural gas of Azerbaijan to Europe. There are several planned or under construction projects that connect Turkey and Greece. Impact of Turkey and Greece as energy hubs on the Greek-Turkish relations and various possibilities for the future cooperation at the energy market are discussed in this chapter