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Period Of Cheap Energy Ended In The World…

The IICEC International Energy Forum gathered the world’s energy giants together, the International Energy AgencyChief Economist Dr. Fatih Birol said:

“Period of cheap energy ended in the world, the power of governments increasing in the industry”

The 5th IICEC International Energy Forum organized by Sabancı University Istanbul International Center for Energy and Climate (IICEC) gathered the top representatives of the energy giants in the worldof  in Istanbul.

Message of the President Gül: “Attention to the actors to have impact on the global balances”

IICEC14-TopluFotografSending a message to the forum held this year under the ‘Global Energy Investments: Challenges and Opportunities’, the President Abdullah Gül underlined the new actors to have impact on the global balances of the energy:

“It is expected that the energy demand of Turkey will double by 2023. The multi-dimensional energy strategy of Turkey, getting prepared through acting from this reality, foresees the diversification of the energy resources and routes, supporting the local, renewable and nuclear energy resources, and also increasing the energy efficiency. The progress of the Middle East, Russia, Caucasia, Middle Asia and OPEC centered energy generation, the rising of the actors that have the potential to have impact on the global energy balances such as Iraq, how the ‘shale gas’ extraction technology will develop and expand in terms of the assumptions on the presence of giant reserves in Latin America, Mexico, China and Australia, etc… factors must be evaluated together with these developments for the purpose of wholistic  energy security discussion.”

Minister Yıldız: “There is no concern in Turkey related to the energy demand security!”

The Energy and Natural Resources Minister Taner Yıldız stated in his speech that Turkey shows a serious performance for 12 years against the minus growth of Europe and added, “There is no concern in our country related to the energy demand security. In 2013, over 7.000 MW installed capacity has been activated and that this figure is equal to the total installed capacity of 13 countries.

Minister Yıldız added, “We are supporting the growth of the private industry in Turkey. While the share of the private industry was 32 percent 12 years ago, now the share of the public regressed to this level.” Minister Yıldız also said that the energy road map of Turkey is continued to be applied in the same manner.

Emphasizing that they follow up the developments in the region of Turkey as the government, Minister Yıldız also underlined  that the advantages resulting from the geography must be followed well.

Güler Sabancı: “IICEC will continue to be the  ‘Polar Star ’ for the energy sector with her growing impact  and  intellectual leadership”

 Sabancı Holding Chairman and Sabancı University Board of Trustees Chairman Güler Sabancı Güler Sabancı emphasized that the role of Turkey increased in the regional and global energy and Istanbul is located at the point where the global energy connects  and expressed that IICEC provides a selective platform where  national and international decision-makers can have interactive opinion exchange.

Sabancı added, “When we decided to establish IICEC five years ago, we dreamed of a globally recognized center that will contribute in the strategies related to the energy and climate for a better future in terms of regional and global energy. Our motivation to implement this idea in Istanbul was basing on moderately concrete reasons. This top level Government, Industry and Academy Forum that is turned into reality by IICEC is a unique event for the energy industry in Turkey and throughout the region. I’m sure that with the growing impact  and intellectual leadership of IICEC, her  ‘polar  star’ role will continuously improve.”

Recording that the energy demand of Turkey continues to increase as having one of the highest growing speeds of the world, Sabancı continued her words: “In order to meet the increase in the demand in a reliable and effective manner, Turkish energy industry requires on-time and sufficient investments in all of her  segments. The stable and reliable atmosphere that turned into reality in the last decade by means of the positive efforts and policies in the energy industry has enabled important international and national companies to make serious investments in this field. As the actors of the energy industry, we should be moderately sensitive. Particularly activation of the necessary regulations by the regulatory entities and decision-makers  without any delay has a vital importance for keeping the global environment of confidence for Turkey .”

Sabancı: “IICEC tries to reduce the current deficit concerning the energy import bill ”

Sabancı announced that IICEC works on an important Policy Paper  for reducing the current deficit concerning the energy import bill .

Expressing that the recent developments in Russia and Ukraine have once again reminded us the significance of energy security, Güler Sabancı said, “The recent developments showed how Turkey can have additional contribution in the regional and global energy security and confirmed the importance of Turkey once again in terms of her  neighbours, global strategic allies and partners.”

Dr. Fatih Birol: “In 2013, the global energy investment reached to 1,6 trillion dollars”.

IICEC Steering Board Honorary Chairman and International Energy Agency Chief  Economist Dr. Fatih Birol stated that the cost of generating one unit of energy doubled in the last 10 years and said, “The period of cheap energy ended in the world not only for oil, but also for the other energy resources.”

Recording that the investments are being made for the shale  gas in the USA and renewable energy resources in Europe for the purpose of meeting the increasing demand in Asia, Dr. Birol emphasized that the efforts of the investors are getting harder due to its impact on the geopolitical developments, the compliance to the climate change and public investment opinion.

He said that the global energy investments increased seriously in the last 10 years, but the investments during the period of 2011-2013 continued in the same line. Associating the reason of this with the slowdown in the energy investments in China and drop in the renewable energy investments, Dr. Birol stated that the total amount of the global energy investment in 2013 was 1,6 trillion dollars.

Mentioning that 60 percent of the investments throughout the world is realized in the renewable energy field, Dr. Birol underlined the necessity to make 40,2 trillion dollars of investment in the following 20 years. Dr. Birol said, “40 percent of this will be realized for meeting the increasing demand and the remaining will be used for renewing the expired facilities.”

Emphasizing that the energy efficiency is a new field, Dr. Birol said that annually 130 billion dollars of investment is being made in the world for this field.

Dr. Birol: “The role of the governments in the energy industry is increasing”

Stating that the role of the governments in the energy market is increasing, Dr. Birol continued his words: “Half of the energy plants and 80 percent of the oil and natural gas resources are owned by the state. Now, not only the private sector  parameters, but the other factors started to orient the energy investments. The investment decisions are taken by the governments and they will have greater roles in the future for the energy markets. 10 years ago, 30 percent of the investment decisions in the world were taken by the competitive markets, now this rate has regressed to 10 percent. This case reveals a scheme  moderately different from the one that we wanted to see 20 years ago.”

Saying that Europe has to reserve resources amounting to more than 2 trillion dollars for the renewable energy, Dr. Fatih Birol emphasized that this is the second greatest investment amount after China. Taking the attention to the power cuts in Europe, Dr. Birol said, “Europe must restructure the electric industry.”

Top representatives of the global energy industry met at IICEC 5th International Energy Forum in Istanbul

In addition to the latest political developments, the future of the oil, natural gas and electric investments in Europe, Turkey and Middle East has been discussed at 5th IICEC International Energy Forum where the stakeholders of the governments and energy industry met in Istanbul. The impacts of the political situation in Iraq, Saudi Arabia and Iran on the oil and natural gas investments as well as global balances have been also discussed.

The developments in the Middle East and their reflections on the global energy markets were among the prioritized topics  being discussed by the energy stakeholders. Furthermore, the recent great development of the ‘Renewable Energy’ investments and the impact of this case on the future energy investments found wide place in the agenda of the stakeholders.

At the 5th International Energy Forum where the energy stakeholders from many countries attended, besides Minister of Environment, Republic of Poland Maciej H. Grabowski, Special Advisor of Prime Minister of Japan Eiichi Hasegawa, Energy Counselort of the Secretaery Melanie Kenderdine, Siemens AG CEO Joe Kaeser, GDF SUEZ CEO Gérard Mestrallet, E.ON SE CEO Dr. Johannes Teyssen, , BP Vice Chairman Dev Sanyal, Shell Vice Chairman Brian Davis and International Energy Agency (IEA) Chief  Economist Dr. Fatih Birol and the representatives of the leading universities’  and think tanks were present.

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