According to the compilation made from the Medium-Term Program (MTP) for 2024-2026, the sanctions imposed on Russia after the Russia-Ukraine war caused commodity prices to rise last year, while Turkey’s energy imports reached historical levels with $96.5 billion. . The decrease in energy imports after the downward trend in commodity prices was effective in this development.

This year, energy prices dropped significantly compared to last year’s levels due to the increase in gas stocks in Europe and the weaker demand in China. In the January-July period, Turkey’s energy imports decreased by 26.2 percent compared to the same period of the previous year and amounted to 41 billion dollars. Parallel to this, it is estimated that energy imports will decrease to 71 billion dollars with a decrease of 26.4 percent compared to the previous year, and will be 77.3 billion dollars in 2024 and 76.3 billion dollars in 2025.

The annual average price of Brent crude oil, which was 100.8 dollars per barrel last year, is expected to be 82.3 dollars in 2023, 86.7 dollars in 2024 and 85.9 dollars in 2025.

Dependency on foreign energy will be reduced

The program also included targets aimed at reducing foreign dependence on energy. Accordingly, oil and natural gas exploration and production activities will be accelerated. Production sites abroad, in which TPAO operates with different partnerships in the field of energy, and fields with potential will be evaluated.

The storage and recycling capacities of natural gas storage facilities will be increased. The added value of domestic natural gas will be increased by establishing a facility that will use Sakarya gas as input.

The nuclear power plant will be included in the electric power generation portfolio

R&D studies will be supported in order to develop domestic and innovative applications in the field of nuclear technology, and initiatives for small modular reactor technology will be accelerated to create additional nuclear power plant capacity.

During the program period, electricity generation from renewable energy sources will be increased and the nuclear power plant will be included in the electrical energy generation portfolio.

Arrangements will be made to expand the use of renewable energy in existing and newly established free zones and organized industrial zones, and to increase its contribution to the green and circular economy.

With the Renewable Energy Resource Area model, projects will continue to be developed to include the use of domestic products.

The new Energy Efficiency Strategy Document and the 2nd National Energy Efficiency Action Plan will be implemented.

Sustainable mining policies will be expanded

On the other hand, it will be ensured that mineral resources are searched at international standards and brought into the economy, and sustainable mining policies in exploration and production will be expanded. In this context, exploration, production and enrichment activities of strategic and critical minerals determined within the framework of responsible mining principles will be increased.

Mineral exploration activities will be defined as activities in the public interest in the legislation, and a new basic regulation will be prepared that will increase investment security, in which the operation of mines will be discussed in detail according to their types, qualities and sustainability principles.

R&D activities will be continued to develop domestic coal and clean coal technologies and to obtain products with high economic value.

The use of domestic electric vehicles will be supported

The OVP also included the basic elements of electric vehicles. Accordingly, the charging station network will be developed in order to popularize electric vehicles, and especially the use of domestic electric vehicles will be supported.

Technological capabilities and investments in new generation energy and transportation systems such as energy-intensive battery technologies, connected vehicles, fully autonomous (driverless) mobility systems and off-rail systems will be increased.

Investments in semiconductor, electric vehicle, battery and critical technology products in their value chain will be encouraged.

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