The forward march of globalization has paused since the financial crisis, giving way to a more conditional, interventionist, and nationalist model of development. The geopolitical scene is strongly affected by factors related to this trend – such as protectionism, economic and resource nationalism, technological, the rise of new energy producers and consumers, changing pricing mechanism, declining levels of investment, and shifting trade flows toward Asia. With a particular focus on Turkey’s neighborhood and the Southern Corridor, this paper discusses changing dynamics and emerging new risks in the new global energy game, with a view to developing messages for government and business leaders.