S&P Global’s Ernsberger highlights Türkiye as key hub in global energy markets
Aerial view of Ataturk Dam, a cornerstone of the Southeastern Anatolian Project (GAP), stands as one of the largest dams in the world, supporting irrigation, energy production, and regional development in Türkiye. (AA Photo)
Speaking at the World Economic Forum (WEF) in Davos, Dave Ernsberger, global head of commodities at S&P Global, described Türkiye as a critical player in global energy markets.
During his interview with Bloomberg HT, he noted Türkiye’s ability to manage uncertainties effectively over the past three years.
“Türkiye has played a significant role in maintaining mobility in the global economy. It has stood out with approaches like sourcing specific oil resources and converting them into products usable by other countries,” Ernsberger said.
Renewable energy costs and challenges
Ernsberger also addressed the challenges associated with the transition to renewable energy.
“We have entered the age of renewable energy, but costs remain very high. This is one of the most-discussed topics at Davos. A technological transformation is needed, and many believe this change will originate in China,” he stated.
Highlighting the risks of trade wars and retaliatory tariffs, Ernsberger stressed the importance of global cooperation in overcoming these challenges.
Türkiye’s potential as global trade center
To further establish itself as a global trade hub, Türkiye must prioritize exports, storage capabilities, and international trade strategies, according to Ernsberger.
“Türkiye needs to focus on exports, storage, and international trade to solidify its position as a global trade center,” he remarked, emphasizing the country’s strategic importance in the energy sector.
