Crises and Our Policies Have Made Our Energy Market Resilient

Minister Bayraktar participated in the Antalya Diplomacy Forum. Speaking at a panel titled “Redrawing the Global Energy Map: Security and Uncertainty” held on the sidelines of the forum, Minister Bayraktar shared Türkiye’s vision for the energy sector.

Our Energy Market Is Quite Resilient

Assessing the impact of the crisis in the Strait of Hormuz on Türkiye, Minister Bayraktar said, “This crisis has affected Türkiye—and quite deeply—but I believe that our energy markets are quite resilient. If you were to ask, ‘Why are your markets resilient?’ I’d like to mention two things: First and foremost, Türkiye is resilient because we’ve experienced crises in the past. Over the last 6–7 years, we’ve weathered the climate crisis, followed by the pandemic. There were uncertainties in the supply chain, and commodity prices fluctuated. Tariff crises, ongoing wars and conflicts—between Russia and Ukraine, and later in Iran and the Middle East... All of these have actually made Türkiye very resilient because we are quite accustomed to dealing with crises. A second answer would be this: The policies we have developed in Türkiye and the vision we have put forward have truly made us much more resilient in dealing with such crises. Over the past 25 years, Türkiye’s energy markets have undergone a major transformation. The market structure has changed in many areas of the energy sector. At the same time, we have opened our markets to private investment and private initiatives. In this sense, we have undergone a transformation. Beyond that, we have established numerous regional partnerships in the energy sector and built massive energy infrastructure.

“We have placed diversification at the very heart of our energy strategy and have successfully carried out numerous projects—both with Azerbaijan and with Türkiye’s neighboring countries. Thanks to this, we have managed to meet all of our long-term energy needs,” he said.

Smart Energy Transition
Minister Bayraktar emphasized the need for a new energy architecture in Türkiye, the region, and the world. Stressing that the energy transition is inevitable, Minister Bayraktar said, “Here, we must discuss the smart energy transition. The smart energy transition must be adaptable in the event of any crisis. When we speak of an ‘adaptable transition,’ we must keep this in mind: it must be a transition capable of adapting to current developments and those that will occur in the future.”

We Can Increase the Use of Infrastructure
Minister Bayraktar also noted that Türkiye could make significant contributions to the new energy architecture, saying, “We must be able to utilize all of our existing infrastructure. Currently, we are utilizing only 60-70% of it. A very large volume of natural gas flows through Türkiye to Europe, and we can increase the utilization of the existing infrastructure with very small investments,” he said. Minister Bayraktar also emphasized that the capacity of the Iraq-Türkiye Oil Pipeline could be expanded and extended all the way to Basra. 
Minister Bayraktar, noting that they are currently working on the Green Corridor project together with Azerbaijan, Georgia, and Bulgaria, stated, “This flow must also be directed in different directions: north, south, east, and west.” Minister Bayraktar added, “This is not the first or last time we have faced a crisis in this area; we are not facing an energy crisis. We will continue to face various energy crises in the coming years. We must learn from all these crises and do what needs to be done.”

Ambitious Energy Goals
Highlighting that renewable energy plays a key role in addressing the challenges we face every day, Minister Bayraktar said, “To reduce carbon emissions and enhance energy supply security, renewable energy—supported by storage systems—will be our true hero, and we are working with all our might in this direction. “We are currently updating our energy plans as Türkiye. We will likely share our much more ambitious targets for 2035 and perhaps even 2040 with the public this year. We have announced our National Energy Efficiency Action Plan covering the years 2024–2030. Within this framework, both the public and private sectors will make significant investments in energy efficiency. We possess enormous potential for energy efficiency across every sector of our economy, from buildings to agriculture, and from transportation to industry.”  Minister Bayraktar stated that nuclear energy is also an integral part of Türkiye’s energy transition story.