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Turkey's Global Hunt for Energy, Commodities
CC-Transcript 00:00Just walk us through exactly what Turkey are looking for on the energy side of things and what is driving this hunt for further energy resources. Morning. Yes. We've seen basically state run energy companies that all fall under the energy ministry here in Turkey popping up in recent months around the world, three or four continents signing deals with a bunch of countries for everything from oil to gas, LNG and metals like uranium and gold. These are including exploration, trade, import, the whole gamut. The the why for Turkey is mainly about the security of supply, right? Turkey is a energy poor exception for the most part in an otherwise very energy rich part of the world. It's very conscious that it's become more conscious of that vulnerability in recent years and now it wants to go out all around the world and secure that supply to bring back home. But also it's very conscious and you've seen in some official statements that they want appease not just of the supply, but the supply chain itself, because they think with that is going to come leverage in turn. So it's also a geopolitical move for Ankara. Yeah. I mean, Turkey isn't the only country around the world looking at these resources. You've got to assume it's going to be competing with other major nations as well, including the likes of China. How can Turkey compete? Yeah, China, I think, is a really interesting comparison. They've obviously been doing a very similar thing, but for decades. Right. But interesting, when they started doing that back in the nineties or so, it looked quite similar. You know, they were targeting countries in the Global South where they had some kind of political advantage or perhaps Western counterparts couldn't compete in the same way for political reasons. Turkey is also leveraging its relationships in, but not only in the global South politically, places where it has existing defence ties, trade ties, diplomatic ties in order to add on that energy element and it's pitch to them is largely based on its current Black Sea gas project. That's a huge deep sea exploration drilling now production project that's online and working. So they're saying, look, we have the technical know how to do that. To do this. We also have the ships, the specialized ships that you'll need to explore, in particular offshore. And they're also rhetorically pitching a kind of solidarity message that, you know, we are distinct from those Western countries or Western counterpart companies that have, you know, the kind of colonial baggage that Turkey doesn't have in the same way.
