Mehmet Öğütçü

Tectonic changes are not occurring only in the world financial system, trading and investment, geopolitics, and technology; a fundamental transformation is also underway in the global energy system. Myriad trends indicate that the current system is far from being sustainable. It will be shaped by rising demand over the long term, dominance of fossil fuels, inaccessible supplies, price volatility, inadequate investment, geopolitical tensions, and climate change. In the midst of these game-changing developments, Turkey has emerged as an important actor to reckon with as a consumer, transporter, investor, regional hub, and security provider in energy and geopolitics. Turks are acting increasingly in pursuit of their own self-interest, rather than sheepishly following the dictates from Washington or Brussels. The paper concludes with a number of policy recommendations for government and business leaders in promoting further co-operation and partnership towards cleaner, smarter and secure energy, rather than fanning confrontation in search of balanced energy supply and demand for all players.

Whatever glossy expressions we use in describing an energy strategy, at the end of the day it all boils down to the ability to provide our citizens and companies with a secure and clean supply of energy at affordable prices in order to preserve our standards of living. At the same time, the negative effects of energy use, particularly with fossil fuels, on the environment have to be effectively mitigated.