Invest News DetailAksam - Turkey’s key strategic location as an energy transit country is critically important for Europe, according to US Deputy Secretary of Energy Daniel Poneman. Speaking at the 31st annual conference of the Turkish-American Council (ATC) in Washington D.C., Poneman emphasized Turkey’s role in providing energy security for Europe and the developing cooperation between Turkey and the US in energy efficiency. “Turkey, as a country standing between the producer and consumer countries, plays a key role in providing energy security for Europe. Turkey handles this responsibility remarkably,” said Poneman in his speech. “Turkey and the US have come a long way in terms of increasing their trade and investment relations during the Obama administration. If security and economy are the pillars of partnership between the US and Turkey, energy lies at the heart of the partnership,” he stated. Bilateral trade between the US and Turkey reached a record level of USD 20 billion last year, and both countries are looking to double this figure by 2014. Poneman praised Turkey’s accomplishments in meeting the energy demands of its people, while emerging as a transit location for oil and natural gas. Turkey is partner to pipeline projects like Nabucco and Trans-Anatolian Pipeline (TANAP) designed to carry natural gas to Europe from producers in the Caspian and the Middle East. The country’s Ceyhan port at the end of the Baku–Tbilisi–Ceyhan pipeline is also a vital outlet for Caspian oil.