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.
U.S. and Pakistani leaders forecast a Sunday signing of a long-elusive framework agreement to end fighting between the United States and Iran, as Reut...
Tajikistan has strengthened its position as one of Central Asia’s fastest-growing economies. According to the European Bank for Reconstruction and D...
The New York Knicks defeated the San Antonio Spurs 94-90 to close out the series 4-1 and claim their first NBA championship since 1973, sparking celeb...
In the runup to the G7 summit, hosted by France in Évian-les-Bains on Monday, 15 June, China has addressed global economic balances in a videoconfer...
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stabilit...
Tajikistan has strengthened its position as one of Central Asia’s fastest-growing economies. According to the European Bank for Reconstruction and Development (EBRD), the trend is supported by investment activity, industrial expansion and large-scale infrastructure projects.
The International Monetary Fund (IMF) has urged Georgia to implement reforms to tackle youth unemployment. Nearly 30 per cent of people aged 15-24 are without a job in the country, according to World Bank data.
British Prime Minister Sir Keir Starmer has pledged to publish the UK government's long-awaited Defence Investment Plan ahead of next month's NATO summit in Ankara, following growing pressure over the UK's military spending commitments.
Hundreds of protesters have torn down fences surrounding a planned luxury development site in Albania, as public anger continues to mount over construction in environmentally sensitive areas.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Japan’s birth rate and fertility levels have fallen to their lowest levels on record, highlighting the country’s worsening demographic crisis as fewer people marry and have children.
Tajikistan has strengthened its position as one of Central Asia’s fastest-growing economies. According to the European Bank for Reconstruction and Development (EBRD), the trend is supported by investment activity, industrial expansion and large-scale infrastructure projects.
The International Monetary Fund (IMF) has urged Georgia to implement reforms to tackle youth unemployment. Nearly 30 per cent of people aged 15-24 are without a job in the country, according to World Bank data.
Kazakhstan’s ruling Amanat party has announced it will merge with a party launched only a month ago by allies of the country’s President Kassym-Jomart Tokayev.
An Indian pollution regulator has accused a Tata components factory supplying Apple iPhones of contaminating groundwater near farmland with wastewater, raising the prospect of a forced shutdown unless the company provides a satisfactory response.
Uzbekistan will launch a new digital financial platform from 1 July aimed at simplifying access to finance for entrepreneurs, as part of broader efforts to support small businesses, encourage innovation and accelerate private sector development.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment