Written by: Basant El-Farmawy
Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, confirmed that there are no studies or plans to increase natural gas prices at the present time, emphasizing that the authorities do not expect any crises in securing natural gas, electricity, and fuel supplies during the coming winter, thanks to the diversity of supply sources.
Production Strategy and Increasing the Share of Local Sources
Bayraktar noted that Turkey aims to transform the national petroleum company into an entity that produces one million barrels of oil and gas per day, which covers about half of the country's needs. He explained that work is underway to double production in the Sakarya gas field in the Black Sea through the third phase of field development, in conjunction with the launch of the floating production platform toward its mission site to increase total daily production.
Energy Price Support and Continued Government Subsidies
The minister explained that the cost of importing natural gas globally is very high compared to the discounted prices applied to residential consumption in Turkey, where the general treasury bears the price difference through continuous support packages. He confirmed that the government continues to provide support for electricity and natural gas, while studying the adjustment of support brackets for large consumers to ensure the sustainability of resources.
Energy Vision and Future Projects
Bayraktar addressed the objectives of the long-term energy program, explaining that Turkey plans to promote renewable and clean energy projects, in addition to enhancing supply security through strategic energy corridors and regional pipelines. He also touched on plans to boost local production of minerals and high value-added industries to support the national economy.
