ISTANBUL, Turkey - The 2015 Atlantic Council energy and economy summit is looking for future alternative energies for the world, Europe in particular.
Oil and gas of the Kurdistan region could be an alternative for the world market. Experts believe that Kurdistan Region Government (KRG) oil and gas energies have already entered the world market, but the region's energy securities hamper the government.
Oil experts tout the Kurdistan region’s oil export to the world market, and they seek more natural gas exports from the KRG, in hopes it will be an alternative source of natural gas and energy for both Turkey and Europe.
"Kurdish oil has already entered the world market and it will continue to do so. Of course the war against ISIS and the difficulties in the region and the great fight of Peshmerga has made things difficult and much more difficult than anticipated, also the falling of oil price has contributed to a situation which is more difficult than we anticipated a few years ago," said friedbert Pfluger, head of European Centre for Energy and Resource Security
Pfluger continued : "Nevertheless, Kurdish oil and also Kurdish gas will play role in the future and we see that today for instance Iran is changing its roles to attract foreign investment and they look to Ashti Hawrami and his reforms and say we should go a similar way so in order to get foreign investment, so I think the Kurdish way is smart and should be continued against all theses difficulties"
Meanwhile, Zalmay Khalilzad counselor at the Center for Strategic and International Studies and president of Khalilzad Associates told Rudaw that the Kurdish gas is going to be a an alternative energy not only for Turkey alone but also for Europe.
"Well, the Kurdish oil is important not only for Kurdistan but for the regional and global market and the amount of oil that Kurdistan is producing has increased, but there are some challenges that Kurdish oil sector faces particularly with the lower oil prices and payment problems for the companies that produce oil is creating some difficulties and Kurdistan needs to restore a healthy relationship between the oil producers and the [government]. But, in the longer term, it is the Kurdish gas that may be a big factor not only for Turkey but for Europe as well to be alternative resource of natural gas." said Khalilzad.
The annual Atlantic Council Energy & Economic Summit,was held in Istanbul from November 18-20, 2015, aiming to build bridges in a region spanning from Central Asia to Central Europe and the Levant that is marred by centuries of division and conflict.
The Summit brought together an influential constituency to foster and strengthen transatlantic engagement on energy, economic, and political challenges.
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