'Turkish Way' Against Geopolitical Tensions

Minister Bayraktar paid a visit to Moscow on the margin of Russian Energy Week.

Geopolitical Tensions

Minister Bayraktar, who made a speech at the Global Energy Markets: Transformation of Relations and the Balance of Interests Forum held within the scope of the Week, mentioned that it is becoming increasingly difficult to provide reliable energy at an affordable cost. Stating that they are facing too much uncertainty, Bayraktar said, "Let's look at the last five years; COVID-19, supply chain disruptions, fluctuations in energy and commodity markets, trade wars, conventional wars and geopolitical tensions around the world. In such an environment, it has become much more difficult to make the necessary investments in the energy sector," he said.

Turkish Way

Emphasizing that Türkiye has developed its own unique way in this geopolitical environment, Bayraktar said, "I call this the 'Turkish way'. Our goal is to meet our energy demand, reduce our import dependence and become a carbon neutral country towards the middle of the century. This is one of the biggest challenges ahead. Our energy policy is also shaped in line with these goals. That's why I call it the 'Turkish way'. We take an inclusive and adaptable approach. We do not exclude any energy source. We must be open to every source and every fuel. At the same time, as the market dynamics change, we must have the flexibility to adjust our policies accordingly and of course we must be rational." he said.

Inclusive Energy Policy

Bayraktar stated that they predict that Türkiye's electricity demand will triple in the next 30 years and emphasized that it follows an inclusive energy policy that includes all resources. Reminding that 8 to 9 gigawatts of renewable energy capacity are commissioned in Türkiye every year, and four nuclear reactors are built in Akkuyu, Bayraktar stated that they will not be satisfied with this, and emphasized that they should build at least 12 large-scale conventional reactors and small modular reactors (SMR) of about 5 gigawatts.

Oil and Gas

Referring to the studies on natural gas and oil, Bayraktar stated that Türkiye has now become a natural gas exporter. Stating that Türkiye has now reached the capacity to supply energy from many countries thanks to investments, Bayraktar said, "We plan to produce 16 billion cubic meters of gas from the Black Sea by 2028. We also cooperate with many international oil and gas companies. We operate in many regions from Pakistan to Libya, from Somalia to Iraq and the Caspian Sea. We also have strong projects on the LNG side. Most of the global LNG supply comes mainly from North America, Mozambique, Australia and Russia," he said.

Turkish Blend Model

Pointing out that LNG has given them great flexibility and competitiveness, Bayraktar said, "When this abundant LNG source is included in our energy mix, we will see more competitive prices in the market. We will be able to provide affordable gas to our citizens. In addition, with the 'Turkish blend' model, which we have created by blending gases from different countries, we will be able to export this excess gas, especially to the Southeast European markets, and there is a serious need for gas in this region." evaluated.

Connection Capacity with Europe

Stating that Türkiye plays a critical role in Europe's energy security, Bayraktar said, "The Trans-Anatolian Natural Gas Pipeline (TANAP) project, which carries gas from the Caspian Sea to Europe and even Italy, and the Turkish Stream agreement signed in Istanbul in 2016, play an important role in European energy security." Pointing out that energy cooperation should be mutual, Bayraktar said, "In addition to oil and natural gas, it is aimed to increase the connection capacity between Türkiye and Europe on the electricity side. There is a lot that can be done in this area, but a strong political will and determination are necessary for this," he said.

Cooperation Order from Russia to Minister Bayraktar

On the occasion of Russian Energy Week, Minister of Energy and Natural Resources Alparslan Bayraktar, who was in Moscow, was awarded the 'order of international cooperation in the nuclear field' by the Russian State Nuclear Energy Corporation Rosatom.

Minister Bayraktar also met with Rosatom General Manager Aleksey Likhachev within the framework of his contacts in Russia. Making a statement on his social media account about the meeting, Minister Bayraktar said, "We met with Rosatom General Manager Mr. Aleksey Likhachev in Moscow and evaluated our strong cooperation comprehensively. We talked about the current situation of Akkuyu NGS, which plays a critical role in Türkiye's energy independence. We see nuclear energy as the locomotive of energy supply security, locality and breakthrough in high technology, beyond being just a source of production on the way to our carbon neutral target of 2053. In this context, I would like to thank Mr. Likhachev for the "order of international cooperation in the nuclear field" given to us by Rosatom.