3/30/2012

Istanbul to host World Energy Leaders' Summit

Businessneweurope - Istanbul has become a city of conferences. Every week there are many conferences and summits of all types held in the city. Hence, it was not surprising that the most vibrant city in Turkey will be hosting the World Energy Council's fourth World Energy Leaders' Summit this April.

Turkey's energy sector has gained a lot of interest from foreign investors in recent years. The country has made big leaps towards energy efficiency. Last April a study by Advanced Resources International (ARI) for the US government on global shale gas prospects identified Turkey - along with Poland, France, Ukraine, South Africa, Chile and Morocco - as countries whose future supply could be significantly boosted by shale, Reuters reported.

After the report was released, several foreign companies including Exxon and Shell, expressed interest in investing in Turkey's energy market.

Turkey is also boosting its green energy sources. The government is currently planning several projects to boost renewable energy production. Although renewable energy sources cannot meet the huge energy demand in Turkey, the country has large potential in the hydropower, biomass, geothermal, solar and wind energy sectors, according to the "Renewable Energy Sources and Policies in Turkey" report released in 2011 by Yildiz Technical University in Istanbul.

The fourth World Energy Leaders' Summit will begin on April 20. Around 100 leaders from 33 countries are invited to the event. The theme will be "delivering tomorrow's energy in a context of high uncertainty," the World Energy Council said.

"Turkey plays a pivotal role in the energy markets thanks to its crucial geopolitical position as a main link between source countries and consumer markets," World Energy Council Secretary General Christoph Frei said in announcing the summit. "Its fast growing economy and demand makes it an attractive energy market and one of those countries that will hold the future of energy development."
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