Energy Ministry Introduces Turkey Giant Energy Investment Agenda

The Energy investment agenda which can take Turkey to its 2023 goal of $2 billion of economic growth has been set. The countr’s energy sector will go through a change through projects from Energy and Natural Resources Minister Berat Albayrak. While the aim is to reduce Turkey’s external energy dependency along with seven basic energy investments, investors will be encouraged to refined and produce domestic and recyclable resources. There will also be a focus on alternative energy resources such as wind power, solar energy, hydroelectricity and nuclear power. The projects in the 65th Government Program aim for Turkey to reach a competitive energy system that can strengthen its strategic position in the international energy trade.

The main topics of the projects include concrete steps that will facilitate the construction of nuclear power plants, and the maximization of domestic and recyclable energy resources, and they will also be used in the production of nuclear power.
Accordingly, concrete steps will be taken in nuclear power. In addition to the agreements that were signed regarding the construction of two nuclear power plants – the 4,800 megawatt plant in Akkuyu and the 4,480 MW plant in Sinop, the construction of an additional third power plant will also kick off during this period.

Natural gas transmission to the housing sector will be completed in all cities as well. Natural gas storage capacity will be increased, and the Tuz Gölü underground storage facility (read more for commercial storage services) project will be completed. The construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) project, which is being conducted with Azerbaijan, will be completed in this period as well. The natural gas will reach Italy through Greece and Albania via the Trans Adriatic Pipeline (TAP), and Turkey and Europe will import natural gas through the Iraq-Turkey Natural Gas Pipeline.

The capacity of the electricity trade with neighboring countries will increase. The infrastructure for the electricity transmission network will be strengthened and turned into a modern network. The privatization of electricity generating assets, which was initiated in 2010, will continue as well. The reserves with lower capacities will be evaluated through large lignite basins like the Afşin-Elbistan reserves. Various projects will be developed to enable the General Directorate of Mineral Research and Exploration to conduct mining activities abroad, and exploration activities regarding the determination of the potential of domestic resources like coal and geothermal will be maximized. The mining industry’s compliance with environmental regulations will be improved, and the creation of global-scale and competitive mining companies will be supported. Raw materials including iron ore, marble and boron will be prioritized in terms of mining research and development. There will also be a new system to be established for the exportation of the critical raw materials, mines and minerals.

Under the framework of the reforms, domestic energy resources will be replaced with foreign ones. Thereby, domestic resources will be utilized at most efficient way possible, reducing external dependency. The products that efficiently consume energy will be increased at the expense of products utilizing the resources inefficiently. Thus, while protecting the environment by cutting carbon emissions and increasing energy efficiency in public buildings and facilities especially, the competitive strength of Turkey will be enhanced.

About the author

Asmaa Mubita is a Kenyan journalist of international repute with over fifteen years of experience in broadcast journalism. Asmaa Mubita began his journalism career at the Kenyan state broadcaster (KBC) and later worked at the KTN owned by the Standard Group and Citizen Television, the flagship brand of Royal Media Services. These exploits together with his reporting experience with the Voice of America, CNN and BBC have been rewarded with local and global recognition.