Using a mix of clean low carbon energy sources including natural gas is critical in achieving global energy transition, Russia’s First Deputy Minister of Energy Pavel Sorokin said Friday at The Istanbul Energy Forum.
The Istanbul Energy Forum, organized by Anadolu under the auspices of the Ministry of Energy and Natural Resources, focuses on the theme ‘Common Future, Common Goals,’ bringing global energy leaders together to address shared challenges.
Western sanctions and rising energy costs, which led to about 100 billion dollars of loss since 2022, partially hindered the energy transition, Sorokin said at the BOTAS Plenary Session titled ‘New Dynamics of Gas Security: Regional Perspectives’ during the international energy conference.
A more reasonable approach to climate change and to energy transition is necessary, he said.
Priority should be to reduce carbon emissions while integrating natural gas, he said and added that natural gas has lower emissions and at the same time is readily available.
Examples of cheaper green energy and gas are seen in Asia, he said.
Supplying energy demand through a mix of low carbon energy sources will lead to achieving climate transition goals, he said.
‘Unfortunately, we’re seeing sanctions trying to limit the will and the ability of the global south to access the source of gas, but I believe that economic pragmatism will win the day,’ he added.
‘With demand growing in China, India, in other Asia Pacific countries, we believe that there is sufficient market, so we ourselves will continue to develop pipeline supplies, which give security and flexibility and will continue supplying competitive energy to our partners and to the world,’ he underlined.
He also said that Turkey’s ambition to be an energy hub of the region is very important and a vital project for the energy security.
– The Turkish Petroleum Pipeline Corporation’s role for region
The Turkish Petroleum Pipeline Corporation (BOTAS) is one of the most powerful companies in the region operating in a wide range of areas, said Abdulvahit Fidan, CEO of Turkish Petroleum Pipeline Corporation (BOTAS).
BOTAS plays a key role in the supply security of both Türkiye and Europe with a stake in various international pipeline projects, Fidan said.
He underlined that the company played an active role in the transportation of oil and natural gas.
BOTAS facilitated the transition of about 14.5 billion barrels of oil through 3,500 kilometers of pipeline and more than 1 trillion cubic meters of gas via pipelines reaching 20,000 kilometers, he said.
Fidan added that efforts and cooperation are ongoing to further the energy supply security of the country and the region.
Financing the energy transition is the biggest bottleneck in the world, said Ahmet Berat Conkar, Deputy Minister of Energy and Natural Resources of Türkiye.
Gas and oil will be available for many years which means there must be an orderly energy transition, Conkar said.
Türkiye has invested in various infrastructure projects to increase natural gas capacity, including regasification, storage and signing long term gas deals, he added.
BOTAS plays a vital role in modernizing and developing the energy and natural gas infrastructure, the CEO said.
