Crises Can Pave the Way for Opportunities and Reforms

Minister Bayraktar answered questions from Turgay Güler during a live broadcast on Ülke TV. Assessing current issues and outlining Türkiye’s steps in the energy and natural resources sector, Minister Bayraktar summarized his remarks as follows:

The Strait of Hormuz is a vital artery for the world’s oil, through which 20% of global oil flows. There is currently a conflict there, and the parties involved have not yet resolved the issue. As a result, there is a rapidly escalating crisis in the world. In other words, the heat of the global economy is rising significantly. What we have been telling Iraq for years was our recommendation: ‘Bring a significant portion of your production—40-50 percent—to different markets via an alternative route.’ Unfortunately, we have been proven right on this matter as well.

NO SUPPLY CONCERNS: We have no LNG imports from Basra or via the Strait of Hormuz. In this regard, Türkiye is secure. Approximately 10% of Türkiye’s oil and petroleum product imports come from this region. Ten percent is a volume we can manage and tolerate. There appears to be no supply security concerns.

LNG TERMINAL CAPACITY: In 2016, Türkiye’s LNG terminal capacity was 30 million cubic meters. As of today, it stands at 160 million cubic meters. In other words, it has increased by more than fivefold. We will now increase this to 200 million cubic meters. We will further strengthen our capacity by constructing an FSRU in Dörtyol and possibly in the Antalya Gulf.

NATURAL GAS PRODUCTION IN THE BLACK SEA: 2026 will be a very important turning point; our production will double. By 2028, it will quadruple. The plan is set through the end of 2028. By this timeline, we will be able to meet approximately 80–85% of the natural gas used in Turkish households. In a sense, we will have virtually eliminated our reliance on foreign natural gas for residential use. 

NEW DRILLING: We started one in the Black Sea Drilling this month, and we’ll begin the second in April. Our plan includes six drilling operations this year.

WE’VE REDRAWN THE NATURAL GAS MAP: Our goal is to diversify Türkiye’s gas sources and suppliers. Türkiye sources natural gas from more than 10 different countries. Of course, this gives us tremendous flexibility. It also gives us the opportunity to procure natural gas at competitive prices. As well s the the opportunity to export surplus natural gas. We have completely transformed Türkiye’s natural gas landscape. While we used to meet the natural gas needs of Thrace and Istanbul via transit from Russia, today we receive it directly through TurkStream. With the pipeline flowing from north to south, Türkiye has now become a country that exports gas in a south-to-north direction via Bulgaria. 

20,000-MEGAWATT TARGET IN NUCLEAR POWER: Türkiye has a long-term target of a total installed capacity of 20,000 megawatts. We need to meet at least 15 percent of our electricity needs through nuclear power. This is a ratio close to the global average, perhaps slightly above it. We absolutely need this. At Akkuyu, our main focus in the first reactor is the testing process. We are in a testing phase where all international standards are being followed with utmost precision, care, and attention.

NATIONAL NUCLEAR ENERGY INDUSTRY: Sinop is a key nuclear site. We have identified sites in Thrace as well. We are making intensive efforts to finalize agreements regarding these sites. We are now moving the Sinop and Thrace projects toward the decision-making stage in collaboration with countries that offer this technology. Hopefully, we will carry these out, and we place great importance on small modular reactors as well. As a country that missed the first nuclear age, the second nuclear age is now arriving with these small modular reactors. We aim to build a national nuclear energy industry that produces the technology, owns the intellectual property, can design the reactors, and has the capability to construct them in Türkiye and subsequently export them. 

NATURAL GAS STORAGE FACILITIES WILL BE 100% FULL: We have significantly increased Türkiye’s underground storage capacity. Through the capacity expansion at Silivri, our Tuz Gölü projects, and their new phases, Türkiye is developing the capability to store up to 12 billion cubic meters, or even 15 billion cubic meters. We had a good winter. Currently, Türkiye’s storage facilities are entering this season at 71-72% capacity; in Europe, the opposite is true—they are entering at 72% empty. Thankfully, we are entering with higher levels, and we will bring these up to 100%. We will be better prepared for the coming winter. 

KIRKUK-CEYHAN PIPELINE: We want this pipeline, which runs to Türkiye, not only to remain in its current state, but to be extended all the way to Basra and to carry 1.5 million barrels per day—its true capacity. Currently, approximately 80,000 to 100,000 barrels of oil—our oil—flow through this pipeline daily, arriving from Şırnak along with others; roughly 100,000 barrels reach Ceyhan. Similarly, oil is currently coming from Iraq, but there remains an unused capacity of over 1 million barrels. We aim to implement a process that will fill this capacity in the coming period.

NEW ENERGY ARCHITECTURE: Recent developments in this region are pushing everyone—the countries in the region and all stakeholders—toward a new security and energy architecture. Pipelines, diversification, and route diversification—all of these must evolve into a framework where everyone can come together in a sense of shared wisdom and mutual benefit in the coming period. These crises could pave the way for opportunities and certain reforms. As Türkiye, we are ready.

DRILLING IN SOMALIA: According to our current plans, the Çağrı Bey drilling vessel is expected to arrive in Somalia around April 9. The water depth in Somalia is approximately 3,400 meters. Beyond the seabed, we have a target area of approximately 3,500 meters. Our goal is to test that area and discover hydrocarbon reserves there. We are conducting oil exploration activities here, and our goal is to bring good news to both the Somali people and our nation. We have two different target depths; we expect to reach the first one in a shorter timeframe, within a few weeks. Depending on the data we collect there, if we proceed to the next phase, it could take until the end of the year—a 7-month process. In Libya, we have secured two fields; one is offshore, and the other is onshore, in partnership with others. Offshore, we may start with seismic surveys, and if we find something there, drilling will follow. Similarly, in Syria and Pakistan, we will conduct both offshore and onshore exploration in this new phase.

ENERGY EFFICIENCY: We have a new action plan for the 2024–2030 period. Over 20 billion dollars in investment is planned, part of which will come from the public sector. The most critical aspect of this entire effort is raising awareness and fostering understanding. We need to turn this into a nationwide campaign. If we use our natural gas more efficiently and save 2% on natural gas consumption, we will have avoided using 1.2 to 1.5 billion cubic meters of natural gas, and this will open the door to exports.

ZERO WASTE: Yesterday was International Zero Waste Day. The initiative launched by the esteemed Mrs. Emine Erdoğan in 2017 has now evolved into an international brand. Today, the Zero Waste Foundation and our Ministry signed a protocol. Zero waste and energy efficiency are closely intertwined in Türkiye. At its core, this reflects our vision of civilization as a nation and a people.