Energy and Natural Resources Minister Alparslan Bayraktar noted that approximately 7.5 million cubic meters of gas are produced daily in the Sakarya gas field, stating that “30% of our gas demand will come from Sakarya by 2030.”

Bayraktar highlighted that as energy demand in Turkey increases, more investments are being made in oil, natural gas, and electricity production.

Speaking at the CERAWeek conference organized by S&P Global in Houston, Texas, USA, Bayraktar pointed out that the biggest challenge they face in the market is import dependency. He stated, “Our policy shapes around reducing import dependency to ensure energy security and provide reliable, affordable energy supply to our citizens.” Bayraktar emphasized their focus on increasing the use of renewable energy and expressed that significant progress will be made in small modular reactors (SMR) in the next few years.

Emphasizing that approximately 7.5 million cubic meters of gas are extracted daily from the Sakarya gas field, Bayraktar stated, “Next month, this will increase to 9.5 million cubic meters, and by 2026, to 20 million cubic meters. This will ensure that 15% of our internal demand comes from Sakarya gas. By 2030, 30% of our gas demand will come from Sakarya.” Bayraktar noted that the agreement made by TPAO is a historic step towards the unconventional petroleum and gas production and finding opportunities, adding that this agreement with Continental Resources and TransAtlantic will focus on unconventional petroleum and gas production in the region (Diyarbakır Basin) and will be a first in the collaboration between Turkey and the USA.

Providing information on investments in liquefied natural gas (LNG), Bayraktar explained that infrastructure investments in this area will allow exporting surplus gas to neighboring markets, particularly southeastern Europe. Bayraktar mentioned, “Currently, Syria and Iraq also need gas, so through our infrastructure, we can supply gas to these neighboring countries.” Asserting that they are working to increase oil and gas production, Bayraktar stated that 3D seismic surveys are ongoing in the offshore area of Somalia, and they will soon conduct operations in Libya.

Stressing their focus on electricity production with non-carbon sources like renewable energy, Bayraktar announced significant interest from both domestic and foreign investors in their program. Bayraktar mentioned that they have allocated a capacity of 2 gigawatts and will soon announce the investment of an international company in a solar energy project in Turkey.