No Concerns Regarding Energy Supply Security in Our Country

Minister Bayraktar participated in an NTV live broadcast and answered questions from NTV Ankara Correspondent Ahmet Ergen regarding current issues. 

No Issues with Supply Security
Assessing the tensions in the Middle East, Minister Bayraktar noted that the developments in the energy sector during the pandemic constituted a demand crisis, but that this situation has now turned into a supply crisis. Evaluating the impact of developments in the Strait of Hormuz on Türkiye, Minister Bayraktar stated, “From the perspective of supply security, this region does not currently pose any risk to us in terms of oil. There is also the natural gas dimension to this. Again, we have no dependence on the Strait of Hormuz. As Türkiye, we source LNG from approximately 12 different countries. We source our natural gas via pipelines from four different countries. Neither in natural gas nor in oil have we faced any supply security issues to date. We will continue to closely monitor the situation to ensure this remains the case. At present, there is no supply security issue regarding energy in our country,” he said. Minister Bayraktar noted that the swift resolution of this process is of great importance both for Türkiye and for the entire world. 

We Will Release 11 Million Barrels
Recalling that the International Energy Agency had requested a portion of oil stocks from member countries, including Türkiye, Minister Bayraktar said, “As a country, we have stated that we will release approximately 11 million barrels from our own reserves within a 90-day period. “This is one of the key factors that may help curb the already abnormal price hikes—prices that have already risen—from climbing even higher,” he said.

We Will Conduct an Assessment
Minister Bayraktar, who also assessed whether developments in the Middle East would affect energy prices, stated, “Especially in light of these latest developments, we need to reassess the new situation. We will conduct an evaluation in April.”

2.4 Million Tons of Oil Arrived Last Year
Minister Bayraktar also made a statement regarding the flow of Iraqi oil to Türkiye. Minister Bayraktar said, “In 2025, approximately 2.4 million tons of oil flowed through this pipeline to refineries in Türkiye. In this regard, we are sending a portion of the oil we receive from Iraq to our refinery in Kırıkkale via this pipeline. “Consequently, a flow of 2.4 million tons was delivered to us last year as well,” he said. 

Flow Has Begun
Speaking about the portion of Iraqi oil arriving in Ceyhan, Minister Bayraktar said, “As of now, the flow has begun. There will be a daily flow of approximately 170,000 to 250,000 barrels.”

Capacity of 1.5 Million Barrels
Minister Bayraktar also noted that the capacity of the pipeline in question is 1.5 million barrels, adding, “We proposed the following: Let’s extend this pipeline from Kirkuk all the way to Basra. “Today, Iraq has a daily crude oil export volume of approximately 3 million barrels. There is a possibility that 1.5 million barrels of this—nearly 50 percent—could be transported via this pipeline to new customers, particularly in the Mediterranean basin. We’ve been saying this for years, but perhaps our counterparts now better understand what we’ve been saying.”

Çağrı Bey to Begin Drilling in April
Minister Bayraktar, noting that the deep-sea drilling vessel Çağrı Bey is en route to Somalia, said, “It looks like we will lower the first drill bit and begin operations in Somalia around mid-April.” 

New Drilling in the Black Sea Next Week
Explaining that there are a total of six drilling targets in the Western, Central, and Eastern Black Sea, Minister Bayraktar said, “We are starting the drilling we will conduct in the Western Black Sea next week. We plan to begin the other one in April and aim to obtain the results of these two drilling operations within the next 2-3 months. God willing, we aim to share these new discoveries and good news with our nation.”

New FSRU Facilities
Providing information on the new Floating Storage and Regasification Units (FSRUs) to be constructed, Minister Bayraktar said, “We are now planning a new FSRU in Dörtyol. That is, there will be two FSRUs there. We are also considering a new FSRU in the Antalya Gulf.”

LNG Agreements with Canada on the Table
Recalling that he was in Canada last week and that the Canadian Foreign Minister visited him yesterday, Minister Bayraktar noted, “LNG agreements with Canada are on our agenda. Additionally, we are engaged in discussions regarding a nuclear reactor with Canada.”

New Energy Architecture
Recalling that Türkiye’s long-term National Energy Plan was announced in 2021, Minister Bayraktar stated, “We will share Türkiye’s new energy architecture with the public this year.” Minister Bayraktar also emphasized that COP31 will be held in Antalya this year.

Electricity Project with Saudi Arabia
Noting that they had signed a very important agreement with Saudi Arabia in the field of renewable energy, Minister Bayraktar also shared the following information: “We are working on another issue that is at least as important, perhaps even more so; it concerns an electricity transmission line from Saudi Arabia to Türkiye and the transfer of electricity to Europe via Türkiye.”