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WEC TALKS – BP ENERGY OUTLOOK
Evaluating the energy agenda of both Turkey and the world on the basis of BP Energy Outlook 2019 Report, 6th WEC Talks held at JW Marriott Hotel on November 19th, with participation of Deputy Minister of Energy and Natural Resources and Chairman of WEC Turkey, Alparslan Bayraktar, Chairman of BP Turkey, Joe Murphy and Chairman of EMRA, Mustafa Yılmaz.
Moderated by Vice Chairman of World Energy Council – Turkey, Kıvanç Zaimler, the panel on “Global Energy Transformation and Turkey’s Position” gathered participators with Head of Zorlu Holding Energy Group, Sinan Ak, Member of the Borad of World Energy Council – Turkey, Barış Sanlı, Chairman of MedReg, Gülefşan Demirbaş and Chairman of Turkish Wind Energy Association.
Emphasizing the trend of transition to a low-carbon economy on a global scale has accelerated, Alparslan Bayraktar began his speech by stating that all developed and developing countries have entered a transformation process.
Addressing the period of significant developments in terms of energy sector in Turkey, the story of Turkey’s energy sector transformation in the last 17 years and its position within the scope of Paris Climate Agreement were also mentioned at the conference.
Addressing the forces shaping the global energy outlook by 2040 and the uncertainties surrounding this transformation, BP’s Head of Refining Economics, Richard DE CAUX presented highlights from BP Energy Outlook 2019 Report as follows:
Estimates regarding energy sector that could affect global energy markets by 2040 were included.
The greatest uncertainties in the period up to 2040 were highlighted as the need for a faster transition to a lower carbon future, as well as the need for more energy to support global economic growth and rising prosperity. In the report, the difficulties to provide the energy needed to support global economic growth and rising prosperity and to rapidly switch to low carbon emissions were listed among the main uncertainties.
Including a number of scenarios, BP Energy Outlook 2019 report highlighted the double challenge facing the world, as well as addressing the potential impacts of the escalation in trade disputes.
The report also states that global energy demand in India, China and Asia will increase by about one-third in 2040, with improvements in living standards.
It has been emphasized that no fuel has ever been faster as renewable energy entering the global energy system and that renewable energy sources and natural gas constitute the majority of the growth in primary energy. BP's developing transformation scenario also states that the renewable energy has lower carbon emissions 85% less.
19.11.2019, JW Marriott Hotel Ancyra Hall, Ankara