Türkiye plans to invest approximately $300 billion in its energy transition by 2040, with electrification and energy efficiency expected to generate $240 billion in cumulative savings, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said.
The agreement was signed on the sidelines of the 31st Conference of the Parties to the UN Framework Convention on Climate Change (COP31).
Turkey expects progress in the coming weeks toward commissioning the first power unit of the Akkuyu Nuclear Power Plant (NPP), Turkish Energy Minister Alparslan Bayraktar said, as he presented an energy development program through 2040 in Istanbul.
Turkey intends to increase its oil production to 1 million barrels in the longer term. By 2028, the national oil and gas company TPAO will raise the figure to 550,000 barrels, Turkish Energy Minister Alparslan Bayraktar said.
Türkiye and Azerbaijan are discussing ways to make full use of existing energy infrastructure, including increasing the use of the Baku-Tbilisi-Ceyhan oil pipeline’s capacity to 1 million barrels per day, Türkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar said at the fifth Azerbaijan-Türkiye Energy Forum.
The first unit of the Akkuyu Nuclear Power Plant (NPP) will begin operation by the end of 2026, and the necessary tests are currently underway, Turkish Energy Minister Alparslan Bayraktar said.
Turkey expects to launch the first reactor at the Akkuyu nuclear power plant, being built by Russia's state nuclear corporation Rosatom, within the next few months.
Russian Deputy Prime Minister Alexander Novak and Turkish Energy Minister Alparslan Bayraktar met in Moscow on Thursday.
The press service of Akkuyu Nuclear announced the completion of preparations for testing the reactor of the 1st power unit
He also clarified that only about 10% of all oil purchased by Türkiye passes through the Strait of Hormuz
Turkish authorities plan to commission the first reactor of the Akkuyu NPP on October 29, the official national holiday - Republic Day
Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar denied reports that natural gas flows from Iran to Türkiye had been halted.
Turkey wants to build four nuclear reactors in the northern province of Sinop and four more in the Thrace region, and is in talks with South Korea, Canada, China and Russia, Turkish Energy Minister Alparslan Bayraktar said on Wednesday.
Turkish authorities have decided to use their emergency oil reserves to slow the rapid rise in energy prices associated with the Strait of Hormuz' blockade.
Turkish Energy Minister Alparslan Bayraktar has reaiterated plans to commission the first unit of the Akkuyu Nuclear Power Plant in 2026.
Azerbaijan and Türkiye signed a new agreement for the supply of 33 billion cubic meters of natural gas, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced.
The first power unit of the Akkuyu Nuclear Power Plant is 95% complete, Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar said on Kanal 7.
Turkey's Energy and Natural Resources Minister Alparslan Bayraktar highlighted progress at the Sakarya Gas Field in the Black Sea.
Rosatom has agreed to provide $9 billion in financing for the construction of Türkiye's first nuclear power plant (NPP), Akkuyu, as announced by the Turkish side.
Turkey’s state energy company Botas has renewed its contract with Gazprom for one year, Turkish Energy Minister Alparslan Bayraktar said.
