The global energy sector is undergoing serious transformation in financing and investments, government policies, environmental and climate change issues amid geopolitical tension, the head of the Bosphorus Energy Club said Monday.
Speaking at the news conference ahead of the Bosphorus Energy Club's 9th annual meeting, which will take place on March 27 in Istanbul, Mehmet Ogutcu, head of the Bosphorus Energy Club, said that at this year's meeting, experts will evaluate energy sector issues, both local and global geopolitical developments, foreign investments and technological developments, as well as the role of women.
'Foreign investment is looking for trust as this applies everywhere worldwide. For this reason, countries need to establish an environment of trust for foreign investment before anything else,' Ogutcu stressed, adding that investments of nearly $25 billion by 2020 are required for the development of the global energy sector.
Ogutcu anticipates that in the coming years, the world will see the effects of the global economic crisis of 2008 at a geopolitical level.
'We will witness big developments and tensions in the next period. The Saudi Arabia-Iran conflict in the Gulf, the emergence of new tensions between China and the U.S. as a result of the Malacca Straits dilemma, and North Korea's nuclear potential are all expected to have a large impact on the energy sector,' he said.
Therefore, Turkey should follow global developments and trends to develop a win-win energy strategy so the country can put its interests to the fore.
Ogutcu also revealed after the meeting that the club aims to publish a Bosphorus Declaration for strengthening the role of women in energy, reflecting the common expectations of all stakeholders while calling for the support of business leaders and government leaders.
By Firdevs Yuksel