TÜSİAD Hosted A Conference “World Energy Outlook 2014”

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The Turkish Industrialists and Businessmen’s Association (TÜSİAD) hosted a conference for the presentation of a report titled “World Energy Outlook 2014,” which was recently released by the International Energy Agency (IEA) at İstanbul’s Sabancı Center.

Making opening remarks at the conference, Dinçer said the growth rate of the Turkish economy could easily be lifted from 3 to 5 percent, but that structural reforms should be implemented first in order to maintain the predictability of energy investments and a liberal and transparent energy market. Dinçer also noted that BOTAŞ should “act like other players in the sector.”

Acknowledging previous amendments to electricity market regulations, Dinçer said revisions should be made to the regulations for the natural gas market as well. Dinçer also asserted that Turkey should not become complacent with falling oil prices, since the current situation contains both opportunities and threats in that it decelerates recovery from the global economic crisis.

Energy and Natural Resources Minister Taner Yıldız also attended the conference, where he commented on recent developments related to world energy corridors. Yıldız stated that Turkey cannot remain irresponsive to developments in Iraq, as that country’s share of the world oil supply by 2040 will be 4 million out of 14 million barrels — the exact amount that is expected to be added to the global oil supply by that time. Underlining that instability in Iraq concerns Turkey, Yıldız said Turkey care about the normalization of Iraq.

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