The Atlantic Council Summit kick-started in Istanbul on Thursday, with world politicians, diplomats and high-level energy officials attending.
Addressing the summit, US Secretary of Energy Rick Perry stressed Turkey’s significant geographical position to energy trade, while welcoming existing cooperation between Ankara and Washington in several fields.
He said Turkey is a key trade partner to the US and North Atlantic Treaty Organization (NATO).
He added that his country would further promote its relations with Turkey in the energy field in the coming period, hailing the current summit as a wonderful chance to discuss sensitive issues germane to energy and the current regional circumstances.
The US secretary of Energy believed that taking steps to improve the energy domain would contribute to maintaining the energy security of the US and its allies.
On his part, International Energy Agency (IEA) Executive Director Fatih Birol said Turkey enjoys a sensitive geographical position in view of the trade of oil, natural gas and power.
He added that 70 percent of the world’s natural gas reserves exist in Turkey’s neighboring countries.
Also addressing the summit, Qatar’s Energy and Industry Minister Mohammed Saleh Al Sada said there is now a high-level maturity within the OPEC thanks to efforts exerted over the last couple of years.
He added that negotiations conducted by OPEC members, together with agreements clinched recently, are mainly intended to boost oil prices and maintain stability.
The Istanbul Summit focuses on regions from Syria to Africa and the Black Sea region to the eastern Mediterranean, discussing issues on the international agenda regarding the economy, national security, energy, trade and the Syrian refugee crisis.
The 8th Atlantic Council Istanbul Summit, held between April 27-28, brings together top business leaders as well as state leaders from across the Middle East and North Africa Region (MENA Region) who will generate ideas and take action regarding energy, the economy and security while seeking opportunities in the midst of increasing challenges.
The State of Kuwait is participating in the summit with a delegation from the Oil Ministry and Kuwaiti General Consul in Istanbul Mohammad Al-Mohammad.