Energy fund pivotal for Turkey: Bosphorus Energy Club

Energy fund pivotal for Turkey: Bosphorus Energy Club

18:39 02 January in Interview and news, INTERVIEWS & NEWS
By Murat Temizer | Anadolu Agency

 – Istanbul based Bosphorus Energy Club hopes Turkish government would establish an energy fund

Turkey should have an ‘energy fund’ to support investments in the country, said Mehmet Ogutcu, head of the Bosphorus Energy Club on Thursday.

According to Ogutcu, decreasing finance costs, ensuring loans and attracting foreign investors for new energy projects will be easier with a Turkish energy fund.

He said that both foreign and local investors should be able to see the future for their investments, in order to increase investments in energy projects.

“Turkey has an energy management system, which is judicial, regulatory, bureaucratic and mostly restricting. That’s why the system should evolve into a more dynamic and result-oriented one as investors demand,” said Ogutcu.

– EU’s gas dependence level is ideal for Turkey

Ogutcu said Turkey should decrease its dependence on Russian natural gas to 30 percent like European Union.

He reminded that Turkey is 55 percent dependent on Russian gas, and the new government and the energy minister Berat Albayrak should focus on diversification.

“Turkey should consider resources around it and make sure that it has alternatives such as floating storage and regasification units, known as FSRU, North Iraqi gas, East Mediterranean gas,” said Ogutcu.

Ogutcu said that the new Turkish government, new crises and new energy bureaucracy bring Turkey a unique opportunity with a new point of view and energy policy.