Turkey seeking to become an “energy trade” hub

Turkey seeking to become an “energy trade” hub
Posted on: 12 Jul 2017

In our world today it is essential to establish connections between fossil fuel sources like oil and natural gas and alternative, cleaner energy types to make sure we do not suffer lack of sufficient energy supply in the future. Turkey is certainly among countries aware of this critical issue concerning the future of young generations. In fact, this is exactly one of the major reasons why Turkey has used every chance to take the necessary initiative by being part of the positive developments on an international level, regarding this subject.

Within this scope Turkey is to host the 22nd World Petroleum Congress (WPC) which is considered to be an occasion to highlight a more sustainable and environment-friendly oil and gas industry through a convention with producers and consumers and representatives from the petroleum industry, other sectors and various countries, between July 9th and 13th.

Moreover, Turkey makes it possible to transport huge quantities of oil and gas from rich energy resources to developed consumer markets and the fact that Turkey organizes the 22nd WPC only shows how enthusiastic and determined it is to contribute to building bridges in this regard.

For the last three years, Turkey has hosted significant energy summits. In addition to the meeting organized by the International Energy Economics Association in 2015, the 21st World Energy Congress held in October 2016 and the 8th Atlantic Council Summit held in April hosted the world energy leaders in Istanbul.

The organization of such global energy events becomes even more important when it comes to the location of the two major impact points of Istanbul and the Dardanelles straits together with the pipelines that ensure safe transportation of oil and gas from producers to consumers.

It is important to note that Turkey's position in oil and natural gas transportation is growing all the time and to provide a fact to verify this it would be enough to know more than 2 million barrels of crude oil pass through Turkish straits per day showing why Turkey believes it deserves to secure the position of an “energy trade” hub.

Therefore Turkey has been seeking to become an “energy trade” hub for quite a while now and the picture shows it has every reason to do so.