Minister Bayraktar wrote an article for the World Energy Council: Turkey’s energy targets are multifaceted – Last Minute Economic News

Minister of Energy and Natural Resources Alparslan Bayraktar, who also serves as the World Energy Council Turkey Presidency, asked the World Energy Council’s website: “Why do we need to continue exploring for oil and natural gas and triple our renewable energy capacity?” He wrote an article titled:

Bayraktar, who evaluated the energy transformation and the transition to renewable energy sources in the article, stated that the world is in consensus on the transition to renewable energy sources.

Bayraktar pointed out that some of the developing economies have created pragmatic energy policies for decarbonization while meeting the increasing energy demand.

Minister Bayraktar said, “Every transition period is challenging, but it is also a unique opportunity to create a set of solutions carefully selected according to the specific needs of that country.” he said.

“TURKEY’S ENERGY TARGETS ARE MULTI-FACED”

In his article, Bayraktar stated that Turkey has multifaceted goals such as “ensuring supply security, affordability, achieving net zero emissions and achieving energy independence” and emphasized that it is possible to achieve most of these goals.

Informing that Turkey’s self-sufficiency in energy has increased to over 30 percent with investments in renewable energy, oil and natural gas, Bayraktar said, “This success is a balanced effort that includes both hydrocarbon exploration and production and increasing renewable energy resources in order to put forward domestic alternatives to oil and natural gas imports.” It’s the result of the approach.” made his assessment.

Stating that Turkey consumes 1 million barrels of oil per day, Bayraktar said, “It is neither possible nor rational to suddenly abandon fossil fuels without creating alternative ways that will ensure the welfare of our people and maintain our global competitive position. A transition that ignores the facts may affect public opinion due to serious increases in energy prices.” “It could jeopardize public support for net zero targets and turn the transition period into a missed opportunity.” he said.

Regarding the oil production in Gabar, which has reached 40 thousand barrels per day, Bayraktar said, “Gabar is now known for discoveries that excite the whole nation. The rapid investments made will quickly bring prosperity to the region. The region, which has been receiving immigrants for many years, has now become a place to receive immigrants.” said.

In this context, Minister Bayraktar stated that Turkey continues its commitment to a diversified energy portfolio by investing in both traditional and renewable energy sources.

“Türkiye HAS A COLLECTIVE AND HOLISTIC APPROACH TO ENERGY”

Stating that he believes that energy transformation should be sensitive, rational, flexible and digital for developing countries like Turkey, Bayraktar said:

“Turkey simultaneously has the world’s largest nuclear power plant construction site, one of the largest offshore natural gas discoveries in recent years, platforms that enable regional natural gas and oil trade, approximately 80 gigawatts of renewable energy projects, one of the largest rare earth elements fields, and billions of dollars for the electricity grid.” “A collective and holistic approach to energy will provide us with a resilient national energy system.”

Pointing out the importance of a collective rather than an individual approach in the fight against climate change, Bayraktar concluded his article by saying, “Let’s change the story from energy transformation to smart energy transformation.” He concluded with the statement: