New Cooperation Between Türkiye and Italy
Minister of Energy and Natural Resources Alparslan Bayraktar indicated that new energy cooperation could be on the horizon between Türkiye and Italy. Emphasizing that Türkiye continues to invest in exploration and production and has the world’s fourth-largest drilling fleet, Minister Bayraktar said: “I hope we will soon make a major announcement with Eni. I cannot disclose the details of the agreement at this stage; we need to finalize it first, but it is a major project. Türkiye and Italy can develop partnerships not only in their own countries but also in third countries and across different regions. We can build partnerships from Africa to the Middle East and from the Middle East to Central Asia, and we are ready to do so.”
Minister Bayraktar attended the Italy–Türkiye Energy Partnership and Business Matchmaking Event in Istanbul.
Areas Where We Complement Each Other
Speaking at the event, Minister Bayraktar highlighted significant similarities between Türkiye and Italy, saying: “There are areas in which I believe we complement each other. I believe there are major opportunities for cooperation in energy and mining.”
Italy and Türkiye Set a Very Positive Example of Cooperation
Minister Bayraktar stated that Türkiye and Italy have enjoyed very good relations at the political level, particularly over the past few years, noting that President Recep Tayyip Erdoğan and Italian Prime Minister Giorgia Meloni have steered this relationship in a very positive direction.
“Considering the challenges we face in today’s world and the successive crises we experience with each passing day, I believe there is a need for much broader cooperation among nations. Italy and Türkiye represent a very positive example of such cooperation,” he said.
The New Normal
Stating that the world is currently experiencing the greatest energy crisis in modern history, Minister Bayraktar noted that shocks and crises continue to occur and that this has now become the “new normal.”
A Fundamental Transformation of the Economy
Explaining that Türkiye is addressing rising energy demand, dependence on external supplies and the challenge of decarbonization, Minister Bayraktar said: “As President Erdoğan has stated, Türkiye will become a carbon-neutral economy by 2053. This requires our entire economy—from industry to buildings, and from transport to agriculture—to undergo a complete and fundamental transformation.”
National Energy 2040
Minister Bayraktar said a major announcement would be made the following week regarding the National Energy 2040 Plan. “Electrification lies at the heart of this new strategy. We will electrify our economy. We will see greater electrification across all sectors, from industry to buildings,” he said.
More Ambitious Targets at COP31
Emphasizing that economy-wide electrification must be accompanied by clean sources of electricity, Minister Bayraktar said: “Our number one priority in Türkiye is to make the fullest possible use of our renewable resources. At COP29 in Baku in 2024, we announced a target of 120 gigawatts. At COP31, Türkiye will announce much larger and more ambitious renewable energy targets.”
A Message of Cooperation with Eni
Emphasizing that Türkiye continues to invest in exploration and production and has the world’s fourth-largest drilling fleet, Minister Bayraktar said:
“We are also investing in oil exploration. At the same time, we plan to expand cooperation with oil companies, one of which is Eni. I hope we will soon make a major announcement with Eni. I cannot disclose the details of the agreement at this stage; we need to finalize it first, but it is a major project. Türkiye and Italy can develop partnerships not only in their own countries but also in third countries and across different regions. We can build partnerships from Africa to the Middle East and from the Middle East to Central Asia, and we are ready to do so.”