US sees Turkey as crucial energy hub

Turkey and the U.S. will continue to build on their successful energy cooperation as the U.S. views Turkey as an important energy hub, Secretary of Energy from the U.S. Department of Energy, Rick Perry, said on Thursday.

Speaking at the eighth Atlantic Council Istanbul Summit, Perry said that the summit offers a great opportunity to put a spotlight on Turkey's significance amid regional energy matters.

The two NATO allies are not only significant trading partners but most importantly they are friends, Perry said, adding that the U.S. is proud of its cooperation with Turkey.

"Turkey is an important energy transit country, is opening new markets for renewables, and has a growing economy with significant energy needs," Perry said.

"In the coming years, I trust we can deepen our cooperation in the energy sector," he noted.

"The U.S. is committed to ensuring universal access to affordable and reliable energy to promote economic growth and energy security. We are focused on developing all sources of energy. As I shared recently with our allies at G7, traditional sources - coal, gas and nuclear - all will be needed for energy and economy security in the foreseeable future," Perry underlined.

Notwithstanding, renewables will also continue to play a developing role in the U.S.' energy mix, Perry added.

"We believe it is wise for countries to use and pursue a full range of energy resources, including high-efficiency, low-emissions coal and natural gas," Perry said.

He added that adequate financing from multilateral development banks and private sector investment along with advanced technology is also desirable.

Innovation is a top priority for the Trump administration and therefore the Department of Energy is committed to developing and deploying policies that will advance all sorts of energy, according to Perry.

"As Turkey and countries in the region develop, new technologies and new sources will need to be employed in a manner that is commercially viable, secure and environmentally responsible," he argued.

"Turkey and the U.S. have cooperated successfully in many areas and we continue to see Turkey as an important hub for energy. We will continue to work closely," he ended.

"ISTANBUL IS UNIQUE"
International Energy Agency (IEA) Executive Director Fatih Birol said in his speech at the opening ceremony of the summit that the hosting city of Istanbul was an appropriate venue choice for the summit given that Turkey is a major energy player in the region, with around 70 percent of global hydrocarbon reserves located around the country.

The energy sector is currently witnessing numerous changes, from lower oil prices, declining costs of renewable resources to international energy governance.

"Istanbul is unique in its history, geography and beauty," Birol said, adding that there is no better place than Istanbul to discuss all these developments.