Istanbul Energy Forum, which launched on 22 November, 2024, is transforming into a concortium intention in favour of increasing the regional cooperations. The Istanbul Energy Forum, which also involves the participation of the business world, was attended by regional ministers.
Among the participating ministers were Azerbaijan’s Minister of Energy Parviz Shahbazov, Bulgaria’s Minister of Energy Vladimir Malinov, Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto, Moldova’s Minister of Energy Victor Parlicov, Russia’s Deputy Minister of Energy Pavel Sorokin, and Serbia’s Minister of Mining and Energy Dubravka Djedovic Handanovic. The forum addressed critical topics such as regional energy security, new technologies for energy transition, smart energy systems, and financing energy transformation. Participating ministers shared their experiences and insights on these issues.[1]
Following COP29, hosting such a major event with high-level regional actors is of utmost importance. Discussions at the ministerial level, particularly between Turkey and Azerbaijan, have consistently revisited topics such as the integration of the Zangezur Corridor into the interconnected system and increasing potential green energy investments in Azerbaijan. In addition to the dialogue aspect of energy diplomacy, investments focusing on technical aspects enhance sustainable collaborations. After the Karabakh War victory, renewable energy investments have become key to the region’s rural development.[2] Azerbaijan’s connection to the European interconnection system via Turkey not only strengthens relations but also bolsters energy security resilience.
On another front, initiatives related to the transportation of Turkmen gas to the European market through Turkey, first proposed in 2022 under a Memorandum of Understanding[3], were also discussed. Minister Bayraktar announced during the forum that efforts and operations in this regard had commenced. Previously, the Minister of Energy and Natural Resources, Alparslan Bayraktar, stated that an initial volume of up to 2 billion cubic meters of Turkmen gas could be transported to Turkey[4] .While this volume increases Turkey’s regulatory leverage as a transit country, there are concerns that investments funded by transit revenues may exacerbate energy dependency.
Another critical topic discussed at the forum was strategies for achieving energy efficiency and reducing carbon emissions. When compared globally to developed nations, Turkey requires significant progress in energy efficiency. However, substantial steps have been taken in recent years, particularly with projects aimed at energy conservation in public buildings. For example, Turkey adopted its National Energy Efficiency Action Plan (NEEAP) in 2018, aiming to reduce greenhouse gas emissions by 21% by 2030. Investments in energy efficiency are crucial to achieving these targets.[5]
In 2020, Turkey’s energy efficiency index score was approximately 4.8, compared to the European Union average of 5.4. The greatest potential for improvement in Turkey lies in public buildings and the industrial sector, where energy efficiency investments are expected to generate annual savings of $30 billion.[6]Monitoring energy efficiency and conservation as a consistent national policy is more critical than many geopolitical gains Turkey might achieve.
From a geopolitical perspective, energy efficiency is vital for Turkey to ensure energy security and reduce external dependence. The increased use of renewable energy sources aligns with Turkey’s strategies to minimize energy supply dependency, further strengthening its position. Economically, enhancing energy efficiency reduces energy imports, narrows the trade deficit, and boosts national income. However, renewable energy investments must be carried out in tandem with base-load power plant capacity to maintain a critical balance.
[1] “Enerji dünyası İstanbul Energy Forum’da buluşuyor”, AA, https://www.aa.com.tr/tr/info/infografik/42309, (Date Accession:23.11.2024).
[2] “Türkiye-Azerbaycan Yeşil Koridor Projeleri ve Jeopolitik Etkileri”, ANKASAM, https://www.ankasam.org/anka-analizler/turkiye-azerbaycan-yesil-koridor-projeleri-ve-jeopolitik-etkileri/, (Date Accession: 23.11.2024).
[3] “Erdoğan: Türkmen gazının Avrupa’ya aktarılması artık sadece zaman meselesi”, Cumhurbaşkanlığı İletişim Başkanlığı, https://t.ly/vII-3, (Date Accession: 23.11.2024).
[4] “Türkmen Gazının Türkiye ve Avrupa Pazarına Girişi İçin Çalışmalar Hız Kazandı”, Dünya Enerji Konseyi, https://dunyaenerji.org.tr/turkmen-gazinin-turkiye-ve-avrupa-pazarina-girisi-icin-calismalar-hiz-kazandi/, (Date Accession: 23.11.2024).
[5] “Turkey: Boosting Energy Service Companies to Increase Energy Efficiency in the Public Sector”, World Bank Group, https://www.worldbank.org/en/country/turkey/brief/turkey-boosting-energy-service-companies-to-increase-energy-efficiency-in-the-public-sector, (Date Accession: 23.11.2024).
[6] “Türkiye”, IEA, https://www.iea.org/countries/turkiye/energy-mix, (Date Accession: 23.11.2024).
