Türkiye is ramping up its global oil and natural gas exploration activities, with a focus on establishing partnerships in various regions, according to Energy Minister Alparslan Bayraktar. Speaking to journalists in Ankara, Bayraktar highlighted key areas of interest, including Somalia and Iraq.
One major initiative is the deployment of the Oruç Reis seismic research vessel to Somalia, marking what Bayraktar described as a "historic era" for Türkiye’s energy strategy. He also noted the country's ongoing efforts in Iraq, where Türkiye currently holds partnerships in three oil fields in the northern region. Plans are underway to expand these partnerships and explore opportunities in Iraq's Basra region as well as Libya.
In addition to these ventures, Türkiye has signed a memorandum of understanding with Sao Tome and Principe to enhance energy cooperation. This agreement could lead to future oil and gas exploration in the African island nation.
Domestically, Türkiye has been investing in liquefied natural gas (LNG) infrastructure to bolster its energy supply. The development of LNG terminals and floating storage and regasification units (FSRU) aligns with the country’s strategy to diversify its energy sources. Türkiye now has the capacity to supply half of its natural gas needs through LNG, thanks to recent long-term agreements.
Addressing concerns about regional tensions, particularly between Iran and Israel, Bayraktar acknowledged that while Türkiye does not trade oil or petroleum products with Iran, it imports around 7-8 billion cubic meters of natural gas annually from the country, which accounts for roughly 15% of its needs. Any disruption to the pipelines could affect Türkiye's supply, but Bayraktar emphasized that diversification efforts have positioned the country to mitigate such risks.
These moves are part of Türkiye's broader "National Energy and Mining Policy," launched in 2016 to reduce reliance on foreign energy. Domestic oil production has also seen growth, reaching around 110,000 barrels per day from public and private companies.
With expanding international partnerships and infrastructure investments, Türkiye is taking significant steps toward energy security and independence.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for April 24th, covering the latest developments you need to know.
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Tanzanian police on Thursday arrested two senior opposition officials en route to a treason hearing for their party leader, Tundu Lissu, tightening the government’s grip on its critics.
Iran has announced that expert-level technical talks with the United States will take place on April 26. According to Foreign Ministry Spokesperson Esmaeil Baqaei, the decision follows a suggestion by Oman and was reached through mutual agreement between the Iranian and U.S. delegations.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 24th, covering the latest developments you need to know.
The Philippines faces the lightest blow from Washington’s new tariff regime—just 17 % on average and with a third of its exports exempt—positioning Manila to lure trade and investment diverted from harder-hit neighbours, a Philippine Institute for Development Studies report says.
Bangladesh clinched two World Bank credits worth $850 million on Wednesday—$650 million to overhaul Chittagong’s Bay Terminal and $200 million to strengthen social protection—aiming to cut shipping costs, spur jobs and aid 4.5 million vulnerable citizens.
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