World Energy Outlook 2014

World Energy Outlook 2014
22 December 2014
Sabancı Center, Istanbul, Turkey

WORLD ENERGY OUTLOOK 2014 Turkey Presentation

Sabancı University International Center for Energy and Climate (IICEC) in cooperation with TÜSİAD organized “World Energy Outlook 2014” Turkey Presentation at Sabancı Center. International Energy Agency (IEA) Chief Economist Dr. Fatih BİROL presented the report. The introductory remarks were made by TÜSİAD President of the Board of Directors Haluk DİNÇER and Minister of Energy and Natural Resources Taner YILDIZ.

In his opening speech, Haluk DİNÇER stated that important developments take place especially in neighboring regions, and they are also influential on the global energy market. DİNÇER said, “The ongoing developments between Russia and Ukraine, and the observed political surge in Middle East have reached to alarming degrees. By the year 2014, the weak recovery trend in the global economy is shaded by a number of geopolitical risks. Moreover, the increase in those geopolitical risks, which have effects on a global scale, is not a possibility to be underestimated. Entering the year 2015, on the one hand, we are in need of anticipating the best methods to manage these current geopolitical risks. On the other hand, we are faced with the management problem of growth rates, which show a systematic decline both in the developed and developing-country groups. Against such a backdrop, the market trends especially in energy sector turn this year as well as next year into a particularly critical period.”

Minister of Energy and Natural Resources Taner YILDIZ indicated that the energy sector will grow together with the private sector, and emphasized that the demands and concerns of the private sector in this regard will be evaluated.

The presentation by Dr. Fatih BİROL covered in detail the World Energy Outlook 2014 findings and projections regarding the recent developments in the regions of production, energy resources that will provide for main consumption centers, energy efficiency potential, the UN Climate Change Conference which will be held in Paris in 2015, and other significant issues that will set the agenda for global energy markets.

Dr. BİROL stated, “The Intergovernmental Panel on Climate Change estimates that in order to limit the temperature increase to 2°C – the internationally agreed goal to avert the most severe and widespread implications of climate change – the world cannot emit more than around 1000 gigatonnes of CO2 from 2014 onwards. This entire budget will be used up by 2040 in our central scenario. Since emissions are not going to drop suddenly to zero once this point is reached, it is clear that the 2°C objective requires urgent action to steer the energy system on to a safer path.” Dr. BİROL also remarked that unless a binding international agreement is made during the Climate Change Conference in Paris, the global warming will reach beyond the expected 2°C objective. The presentation was followed by an extensive Q & A session.

After the conference, the meeting of IICEC Board of Directors took place with the participation of Mehmet GÖÇMEN, EnerjiSA; Adil TEKİN, ALSTOM Turkey; Ahmet Ümit DANIŞMAN, Akenerji; Ahmet EREN, Eren Holding; Ahmet ERDEM, SHELL Turkey; Canan ÖZSOY, GE Turkey; Ali YILDIZEL, Genel Energy; Sinan BUBİK, Siemens; Hakan YILDIRIM, Siemens; Dr. Fatih BİROL, IEA; Prof. Dr. Nihat BERKER, Sabancı University; Dr. Mehmet Doğan ÜÇOK, IICEC.

About World Energy Outlook

Issued by the International Energy Agency (IEA), the “World Energy Outlook” is the world’s most reputable, talked-about and sold publication in the energy industry that contains reliable energy market analyses, critical foresight into energy supply and demand trends, and comprehensive reviews of economic developments. Report contains the latest forecasts for the next 20 years, policy developments and recent analyses supported by the learnings of the past year. “World Energy Outlook” is a reference book for ministers of energy, economy and environment worldwide, enabling them to make the right investment decisions and accurate plans.