Akkuyu NGS, a Historic Turning Point

Minister Bayraktar participated in the 18th Verona Eurasia Economic Forum held in Istanbul.

Forward-Looking Strategy

Speaking at the opening session of the forum, Minister Bayraktar emphasized that Türkiye is located at the intersection of continents in terms of geography, economy, and politics, stating, “This position provides Türkiye with a natural advantage as the center of gravity for regional and global cooperation. In the face of global uncertainty, Türkiye's strategy is very clear, flexible, forward-looking, and diversified.”

Türkiye Among Regional Leaders

Pointing out that energy is at the heart of Türkiye's economic growth and strategic vision, Bayraktar said, "Our goal is to provide safe, reliable, and affordable energy in our transition to zero emissions. Türkiye's total installed power capacity currently exceeds 121 gigawatts, and more than 60 percent of this comes from renewable energy sources. This places Turkey among the leaders in the region."

A Historic Turning Point

Bayraktar noted that domestic and foreign investments in wind, solar, geothermal, and biomass projects continue in Türkiye. He also emphasized that they are taking decisive steps in the field of nuclear energy, which will play a vital role in providing clean, reliable, and base-load electricity to meet growing demand. Recalling that four units are being built at the Akkuyu Nuclear Power Plant, one of the largest energy projects between Russia and Türkiye, Bayraktar said, “The first unit of the Akkuyu NPP is planned to start electricity production in 2026, and this will be a historic turning point in our energy diversification journey.”

20 Gigawatts of Nuclear Capacity

Bayraktar stated that Türkiye aims to reach 20 gigawatts of nuclear energy capacity by 2050 with projects in the Thrace region and Sinop, adding that projects involving small modular reactors will also increase energy stability and flexibility.

Regional Energy Hub

Bayraktar noted that Türkiye has partnerships with Russia, Azerbaijan, and Iran in natural gas and is developing liquefied natural gas (LNG) infrastructure. He said, "With projects like TurkStream and TANAP, Türkiye is not only developing its own supply, but is also becoming a regional energy hub, facilitating gas flow from east to west and contributing to Europe's energy security." Bayraktar stated that production at the Sakarya natural gas field in the Black Sea, with reserves of 785 billion cubic meters, will soon reach 40 million cubic meters per day, and that production at the Gabar oil field has reached 80,000 barrels per day.

20 Billion Dollar Investment

Bayraktar stated that they aim to reduce energy consumption by 16 percent by 2030 under the National Energy Efficiency Action Plan, emphasizing that they will create employment for thousands of people with investments exceeding 20 billion dollars in this area. 

Attractive for Investors

Minister Bayraktar pointed out that Türkiye's growing role in energy also increases its economic impact, stating, "This makes Türkiye an attractive destination for investors seeking logistics, manufacturing, and technology sectors; stability, connectivity, and access to multiple markets simultaneously. From Central Asia to Europe, from the Mediterranean to Africa, Türkiye is becoming a center for energy, trade, and innovation."