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US-Turkey energy ties seeing 'renaissance'

- 38th American-Turkish Conference hears that energy sector presents opportunity to boost bilateral relations

home > Energy Diplomacy, International Relations, Turkey, Americas 22.09.2020 08:47

US-Turkey energy ties seeing 'renaissance'

The Turkish-US relationship in the energy sector is seeing a kind of renaissance, said participants at a virtual conference on Monday.

Speaking at a program as part of the 38th American-Turkish Conference, James Jones, honorary chair of the US-Turkey Business Council, said:

“There are some least reasons for optimism, because, despite the pandemic and the turbulence in the energy market, the US and Turkey energy relationship is experiencing a renaissance of sorts.”

The energy sector, according to him, has good opportunities to boost bilateral ties, from LNG to pipeline projects in Central Asia and Iraq, to renewables, and lately to Turkey’s recent natural gas discovery in the Black Sea.

Jones said technology and secure 5G can also unlock the level of cooperation between the two countries as NATO allies, as their commitments are to develop secure and safe communication, which is something extremely important.

Another area ripe for cooperation is health care, he said, adding that especially PPEs present a great opportunity.

He stressed: “Turkey is a crucial producer of extremely high-quality medical gear that can be an important source of bilateral trade.”

- Reducing China’s influence

As we are living in extraordinary times, this “requires extraordinary cooperation. We should pledge to do that,” Jones urged.

He added that one of the big aims of American politics is a desire to reduce China’s influence in the US’ trading patterns, adding that this has a potential opportunity with US trade and strategic relations.

“In my view, Turkey and the US are viable alternatives to the development projects funded by China’s Belt and Road Initiative,” Jones said.

He concluded by saying both sides should listen to each other with open minds towards the $100 billion trade volume target set by two countries.

The pandemic has reset the global economic order in a profound way, said Nail Olpak, the chair of Turkey’s Foreign Economic Relations Board (DEIK), stressing his belief in the resilience of the world economy and the private sector's sound stance to overcome challenges.

Saying that the world is restructuring its supply chains in various sectors, Olpak added:

"There is a shift away from one or a limited supply chain, not just in the US but globally, because COVID-19 lockdowns forced businesses to confront the risks and challenges of over-reliance on a single country for supplies and materials."

Having just one or limited suppliers carries more risk than thought, Olpak warned.

"We know that many firms in America and around the world are looking for alternatives, and Turkey stands ready to step into that role," he stressed.

Touching on Turkey's strong manufacturing base and reputation for high-quality products, Olpak stressed the geographic attractiveness of the country, as the gateway between the East and the West. The world also realized that logistics is not only about distance, he said.

By Tuba Sahin and Aysu Bicer

Anadolu Agency

energy@aa.com.tr


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Iraq’s central bank devalues national currency

-Iraq says devaluation is necessary to overcome economic crisis brought by low oil prices
21.12.2020 Stock Market , Energy Projects , Middle East-Africa

Global environment developments across world in 2020

- Number of reports on 2020 as year of high temperature records, announced by international organizations
22.12.2020 International Organization , World , Turkey

Highlights of global energy market in 2020

- Oil price volatility due to Covid-19, energy demand slump and acceleration in renewables are hot topics in 2020
21.12.2020 Oil , Renewable , Energy Diplomacy , World

Highlights of Turkish energy market in 2020

- Black Sea gas discovery, tensions in E. Med., TurkStream coming online and records in renewables were hot topics in 2020
21.12.2020 Natural Gas , Oil , Renewable , Coal , Energy Diplomacy , Turkey

Meeting on reviving Libya’s economy ends in Geneva

- Economic, banking, oil and finance officials from all sides agree to January meeting to continue quest to resolve crises
16.12.2020 Energy Diplomacy , Energy Security , Energy Projects

Climate strikes, environmental protests in November 2020

- Environmental groups, activists around globe continue protesting online, mostly due to increasing COVID-19 cases
16.12.2020 Renewable , Energy Projects

Turkey, Azerbaijan sign MoU to supply gas to Nakhchivan

- 85-kilometer-long Turkey-Nakhchivan natural gas pipeline will carry 500 million cubic meters of gas annually
16.12.2020 Natural Gas , Energy Diplomacy , Turkey , Eurasia

Global oil demand to increase 6.2% in 2021: IEA

- As mass vaccination will take several months, impact on oil demand will not be soon, IEA says
16.12.2020 Oil , International Organization , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Economy main focus of new Turkish Cypriot government

-‘We will continue to protect our rights to natural gas resources we co-own,’ says new Prime Minister Ersan Saner
15.12.2020 Energy Security , Turkey , Europe

Global oil demand to increase 6.6% in 2021: OPEC

- Transportation and industrial sectors are projected to lead oil demand growth in 2021, says OPEC
16.12.2020 Oil , International Organization , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Jordan finds promising gas reserves near Iraq border

- Exploration & drilling in Risha field expected to lead to huge gas discovery to help reduce Jordan's energy dependence
14.12.2020 Natural Gas , Energy Security , Middle East-Africa

UK, EU agree to extend Brexit talks

- 'We think it is responsible at this point to go the extra mile,' joint statement says
14.12.2020 Energy Diplomacy , Europe

'EU must discard pressure from Greece, Greek Cypriots'

- Extremely wrong for Turkey, EU relations to be captive to tricks of some states, says Turkish president
14.12.2020 Energy Diplomacy , Energy Security , Europe , General

Turkey, Italy explore greater economic cooperation

- Both countries preparing for new cooperation in areas of infrastructure, energy, and especially transport sector
11.12.2020 International Relations , Energy Projects , Turkey , Europe

EU to impose additional sanctions on Turkey

- European Council stresses importance of keeping communication channels open
11.12.2020 Energy Security , International Relations , Turkey , Europe

More oil needed to meet demand through 2050

- Addition of over 313 billion barrels of oil are needed to meet global demand over next 30 years, says Rystad Energy
10.12.2020 Oil , International Organization , World

US energy agency revises up oil price forecast

- Brent price expected to increase by 2.1%, according to Energy Info. Administration's Short-Term Energy Outlook for December
10.12.2020 Oil , International Organization , World , Americas

North Cyprus: Parties sign deal to form coalition gov’t

- Agreement reached following directive by President Ersin Tatar
09.12.2020 Energy Diplomacy , Turkey , General

Aramco, Baker Hughes form JV for non-metallic products

- Facility to produce onshore non-metallic pipelines, including reinforced thermoplastic pipes from composite materials
08.12.2020 Oil , Energy Security , Energy Projects , Middle East-Africa

Esenboga Elektrik purchases 11 solar power plants

- Approx. 20 million kWh of solar energy, $2.66M of sales revenue and $2.5M of net income are expected in 2021 from plants
08.12.2020 Electricity , Energy Projects , Turkey

Fuming at defeat, Trump calls US 'third world nation'

- 'It's a disgrace to our country. It's like a third world country,' says US president
08.12.2020 Energy Diplomacy , Americas

Turkey urges fair resource sharing in Eastern Med

-Foreign Minister Mevlut Cavusoglu says Ankara wants peace, stability as well as prosperity in region
08.12.2020 Energy Diplomacy , Turkey

UK, EU say conditions for trade deal 'not there' yet

- Premier Boris Johnson expected to travel to Brussels this week for face-to-face meeting with EU leaders
08.12.2020 Energy Diplomacy , Europe

Turkish cargo ship detained by Haftar’s forces

- Forces loyal to Libyan warlord claim vessel did not comply with instructions
08.12.2020 Energy Diplomacy , Turkey , Middle East-Africa

Venezuela, Turkey relations peaked after coup attempt

- Caracas always had ‘good relations’ with Ankara; Maduro one of first to condemn coup attempt by FETO, said Jorge Arreaza.
07.12.2020 Energy Security , Turkey , Americas , General

EU: Brexit deal not 'feasible' unless disputes resolved

- EU Commission President Von der Leyen issues statement after phone call with British Prime Minister Johnson
07.12.2020 Energy Diplomacy , Europe

OPEC+ to continue to make timely supply changes: Fitch

- OPEC+ will regulate supply to avoid large market imbalances to curtail oil price volatility in 2021, says rating agency
04.12.2020 Oil , International Relations , International Organization , World

COVID-19 pandemic deepens energy efficiency slowdown

- Energy efficiency’s weakest progress in decade threatens international climate goals, according to IEA report
03.12.2020 Finance , Renewable , International Organization , Energy Projects , World

NATO chief, French president discuss Mediterranean

- Jens Stoltenberg says he held good talks with Emmanuel Macron on way forward for NATO 2030 project
03.12.2020 Natural Gas , Energy Security , Turkey , Europe , General

Iran okays plan to speed nuclear program

- Guardian Council's nod dampens government efforts to hold talks with Washington on 2015 nuclear deal
03.12.2020 Nuclear , Energy Security , General

US official: Israel behind Iranian scientist's killing

- Trump administration official claims Mohsen Fakhrizadeh has long been target of Tel Aviv
03.12.2020 Energy Security , Middle East-Africa , General

India eyes resuming oil imports from Iran and Venezuela

- India major buyer of Iranian and Venezuelan oil before US imposes sanctions
03.12.2020 Oil , Energy Security , International Relations , Asia

Merkel sees positive signal from Turkey ahead of EU summit

- German chancellor says return of Turkish research vessel Oruc Reis to port 'good signal' ahead of EU leaders summit
01.12.2020 Energy Security , International Relations , Turkey , Europe

Egypt: Countries must reach binding deal on Nile dam

- Nile river must be source of cooperation, development in region, says Egypt's leader during official visit to South Sudan
30.11.2020 Energy Security , International Relations , Middle East-Africa

Iran says ‘hard revenge awaits’ scientist’s killers

- Iran’s top nuclear scientist assassinated by unknown assailants near capital Tehran
30.11.2020 Energy Security , Middle East-Africa

Iran's top nuclear scientist assassinated near capital

- Country's Defense Ministry, Foreign Minister Javad Zarif confirm assassination of Mohsen Fakhrizadeh
29.11.2020 Energy Security , Middle East-Africa

Turkey, Qatar ink 10 new deals

- Turkish president, Qatari emir attend closed-door meeting in Ankara
27.11.2020 Energy Diplomacy , Energy Security , Energy Projects , Turkey , Middle East-Africa

Turkey, Bulgaria to back private sector to boost trade

- 2 countries should cooperate to eliminate economic fallout from coronavirus pandemic, business forum hears
26.11.2020 International Relations , Turkey , Europe

OPEC says attack on Aramco's fuel tank 'cowardly act'

-No supply chains were affected, says OPEC chief
26.11.2020 Oil , International Organization , World , Middle East-Africa

US: Biden names John Kerry as special climate envoy

- Kerry to be first special presidential envoy that holds seat at National Security Council
24.11.2020 Energy Diplomacy , Americas

Turkey summons EU, Italian, German envoys over search of ship

- Diplomats of EU, Italy and Germany in Ankara summoned over controversial search of Turkish-flagged ship by EU mission
24.11.2020 Energy Diplomacy , Turkey

Renewables thrive despite low energy demand: IEA Chief

-Solar power plants have become ‘new king’ of electricity sector amid decreasing global energy demand, says Fatih Birol
25.11.2020 Oil , Renewable , International Organization , World , Turkey

2020 turning point for renewables in Turkey: En. min.

- Turkey's new installed capacity in renewables for 2020 is higher than 17 EU countries' renewables capacity, minister says
24.11.2020 Renewable , Energy Diplomacy , Turkey

Turkey calls Greece for dialogue on East Med

- Ankara issues another Navtex to conduct seismic research activities
23.11.2020 Energy Diplomacy , International Relations

Turkey to continue exploration in E.Med until Nov. 29

- Oruc Reis research vessel to conduct seismic studies in Eastern Mediterranean for 9 days
23.11.2020 Finance , Energy Diplomacy , Energy Security , Turkey

Russia, Turkey settle Karabakh truce's final details

- Putin urges UN groups to support humanitarian efforts in region as Moscow, Ankara hammer out details on monitoring center
22.11.2020 Energy Security , Eurasia , General

Brent oil price up 2.65% for week ending Nov. 20

- Boosted hopes for a sooner-than-expected recovery have lion's share in general positive outlook amid successful vaccine trials
21.11.2020 Oil , Energy Security , World

‘Iran ready to abide by nuclear deal pledges’

- Iranian officials say they are ready to return to pledges of the 2015 nuclear deal, depending on US response
21.11.2020 Energy Diplomacy , Middle East-Africa

Egypt: Blast hits gas pipeline in North Sinai

- Cause remains unknown
20.11.2020 Natural Gas , Energy Security , Middle East-Africa
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