ISTANBUL

The nuclear sector will provide a key share of Turkey's energy production in 10 to 15 years, said Fuat Akhundov, CEO of Turkey's first nuclear power plant Akkuyu, on Thursday.

Speaking at the second Istanbul Nuclear Power Plants Summit, Akhundov said that Turkey uses mostly imported natural gas for electricity generation; production at Akkuyu will decrease the country's natural gas bills by a billion dollars.

We plan to generate 35 billion kilowatt hours of electricity per year, said Akhundov, adding that Akkuyu will provide nearly 14 percent of Turkey's electricity demand.

Akhundov explained that Russia provided $800 million to the project in January and a total of $3 billion has been provided to Akkuyu as of this date. 

The Akkuyu Power Plant will be Turkey's first nuclear power plant, constructed in Mersin, in the Mediterranean Region of Turkey and is expected to be fully operational in 2023.