Goal Set to Produce 100,000 Barrels of Oil Per Day by 2024
Minister Bayraktar Defends Turkey’s Energy Policies at the Grand National Assembly
Minister of Energy and Natural Resources, Fatih Dönmez, responded to criticisms against Turkey’s energy policies during discussions on the 2024 budget at the Grand National Assembly of Turkey Planning and Budget Commission. In response to accusations that the country’s energy strategies are isolated from global markets, Dönmez reaffirmed that Turkey has been committed to reducing its dependence on foreign energy and ensuring a stable energy supply since 2002.
Under the AK Party government, Dönmez highlighted two key energy policy focuses. The first is to strengthen the country’s energy security by guaranteeing a reliable supply. The second is to decrease reliance on foreign energy sources. Emphasizing the significant transformation in the energy sector over the past two decades, Dönmez pointed out the shift from a state-controlled market to a model that encourages investment from local and foreign private sectors.
Dönmez underscored that renewable energy plays a crucial role in achieving environmental targets and reducing Turkey’s dependency on foreign energy. He stated that the country currently holds 12,000 megawatts of wind and 10,000 megawatts of solar installed power, with plans to add an additional 60,000 megawatts by 2035. Recognizing the importance of nuclear energy in combating global warming, Dönmez stressed the need for nuclear power plants as part of Turkey’s long-term energy plans.
Regarding the Akkuyu Nuclear Power Plant, Dönmez clarified that the purchase guarantee for electricity produced is limited to 70 percent, with the remaining portion to be sold on the open market. Dönmez also rebutted claims of increasing dependence on Russia, highlighting the economic benefits of nuclear energy over natural gas imports.
Dönmez addressed the importance of natural gas and oil exploration to reduce foreign energy dependency, emphasizing Turkey’s goal of becoming a net exporter in the mining sector. He noted that successful exploration efforts have led to significant oil discoveries, projecting an increase in domestic oil production by the end of 2024.
In conclusion, Minister Dönmez reaffirmed Turkey’s commitment to an energy policy centered on promoting domestic energy production, reducing reliance on foreign imports, and transitioning towards renewable and nuclear energy sources. The 2024 budgets for various energy-related institutions were approved during the commission discussions, signaling the government’s continued investment in the country’s energy sector.
