The Minister of Energy and Natural Resources, Alparslan Bayraktar, stated that approximately 7.5 million cubic meters of gas are produced daily in the Sakarya gas field, emphasizing that “30% of our gas demand towards 2030 will come from Sakarya.”

Minister Bayraktar explained that energy demand is increasing in Turkey, leading to increased investments in oil, natural gas, and electricity production. Speaking at the CERAWeek conference in Houston, Texas, organized by S&P Global, Bayraktar highlighted the biggest challenge they face in the market is import dependency.

He expressed, “Our policy is shaped by the need to ensure energy security and reduce import dependency to provide citizens with reliable, affordable energy supply.” Bayraktar stressed their focus on increasing the use of renewable energy and predicted significant progress in small modular reactors (SMR) in the coming years.

Referring to the daily extraction of about 7.5 million cubic meters of gas from the Sakarya gas field, Bayraktar mentioned plans to increase this to 9.5 million cubic meters next month and 20 million cubic meters by 2026. This will ensure that 15% of our domestic demand will be met by Sakarya gas, with the target of 30% by 2030.

Bayraktar also highlighted the historic step of TPAO’s agreement with Continental Resources and TransAtlantic to focus on unconventional oil and gas production, opening a new era in oil and gas exploration in Turkey. He further elaborated on investments in the liquefied natural gas (LNG) sector, emphasizing the infrastructure investments’ potential to export surplus gas to neighboring markets like Southeast Europe.

Discussing efforts to increase oil and gas production, Bayraktar mentioned ongoing seismic studies in the offshore Somalia area and upcoming projects in Libya. He hinted at a significant investment announcement in the near future and noted the high interest from both local and foreign investors in renewables, such as solar energy projects in Turkey.