This year saw a notable increase in international cooperation between Türkiye and global players in the fields of rare earth materials, oil, natural gas, and nuclear power.
Türkiye emerged as a key player in the global energy sector, forging key partnerships with major energy stakeholders, including ExxonMobil, TotalEnergies and Shell. Additionally, Türkiye expanded its role in regional hydrocarbon exploration, including partnerships with Niger and Somalia.
The country also expanded its energy fleet this year with the addition of a floating natural gas production platform which will significantly increase production at the Sakarya Gas Field in the Black Sea.
The year started off with international talks to enhance cooperation in various areas within the energy sector.
On Jan. 9, Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar vowed to enhance cooperation for the excavation and processing of rare earth materials.
On Jan. 14, Bayraktar emphasized Libya's potential in oil and gas and reaffirmed Ankara's readiness to collaborate with countries and companies to help Libya use this potential.
On Jan. 23, Türkiye's energy minister discussed a roadmap for energy cooperation with the UAE's Investment Minister Mohamed bin Hassan Alsuwaidi.
On Jan. 24, Bayraktar and Iran's Petroleum Minister Javad Owji discussed expanding energy cooperation between the two countries.
On April 16, the head of Türkiye's Petroleum Pipeline Corporation (BOTAS) and Egypt's Ambassador to Türkiye discussed energy cooperation in Ankara.
On April 25, Turkish and Greek energy ministers pledged to strengthen bilateral cooperation during the first Greek-Turkish Energy Forum in Istanbul.
- International agreements
Türkiye signed several agreements with different nations to strengthen its energy cooperation during the year.
On Feb. 1, Türkiye signed two memorandums of understanding (MoU) in the fields of oil, natural gas and mining with Venezuelan officials.
On March 1, Türkiye and Turkmenistan signed an MoU, laying the groundwork for future hydrocarbon collaboration.
On March 7, Türkiye and Somalia signed an intergovernmental agreement to strengthen cooperation in Somalia's oil and gas resources, including both onshore and offshore blocks.
On May 14, Bayraktar and Azerbaijan's Economy Minister Mikayil Cabbarov signed a comprehensive deal for the capacity expansion of several natural gas pipelines. The deal will facilitate the transport of additional gas volumes from Azerbaijan and the Caspian region to Türkiye and Europe by 2030.
On May 21, China and Türkiye signed an MoU on energy transformation cooperation during Bayraktar's visit to the country.
On June 4, a natural gas supply agreement between Azerbaijan and Türkiye, set to expire in 2024, was extended until 2030.
On June 6, Bayraktar and Uzbek Energy Minister Jurabek Mirzamahmudov signed a protocol on energy transformation cooperation.
On July 17, Türkiye and Niger took a significant step toward energy cooperation, signing a declaration of intent to collaborate on oil and natural gas projects in the country's capital Niamey.
On July 18, Türkiye signed a deal with Somalia for hydrocarbon exploration in three blocks in the Somalian offshore.
On Oct. 11, Serbia and Türkiye signed an MoU for energy transition cooperation.
On Oct. 22, Türkiye and Niger, a mineral-rich African nation, signed an MoU to cooperate on mineral exploration and exploitation.
On Oct. 25, Somali President Hassan Sheikh Mohamud officially inaugurated a welcoming ceremony for Türkiye's seismic exploration vessel, Oruc Reis, as it docked at Mogadishu seaport for its mission to explore oil and natural gas off Somalia's coast.
- Corporate collaboration
The country's Petroleum Pipeline Corporation (BOTAS) also signed several important energy agreements with companies in countries including the US, Brazil and Egypt.
On Feb. 15, BOTAS and Egypt's Natural Gas Holding Company (EGAS) agreed to enhance cooperation on natural gas trade, LNG, infrastructure and technical knowledge sharing.
On Feb. 28, the European Energy Exchange (EEX) and the Turkish Energy Stock Market (EPIAS) partnered to develop and implement an Emissions Trading System (ETS) in Türkiye.
On March 29, Türkiye's leading LPG supplier, BDY Group, and the global energy trading giant BB Energy signed an MoU to explore a strategic partnership and potential equity transaction.
On May 7, Turkish energy firm Karpowership signed a deal with Brazil's state oil company Petrobras to combine their expertise in the natural gas and energy sectors.
On May 8, BOTAS and ExxonMobil signed a cooperation agreement for LNG trade.
On Sept. 2, a strategic agreement was signed between BOTAS and Shell, the world's leading oil and natural gas company. As part of the long-term agreement, BOTAS will receive 40 LNG cargoes of approximately 4 billion cubic meters (bcm) from Shell over a 10-year period starting in 2027.
On Sept. 18, BOTAS and TotalEnergies signed a 10-year LNG agreement. With the agreement, TotalEnergies will supply a total of 16 LNG cargoes of approximately 1.6 bcm per year starting in 2027. BOTAS will be able to take delivery of some of the LNG from the filling ports in the US and some from terminals in Türkiye and Europe.
- Renewable energy milestones
Türkiye made several advancements in the renewable energy sector in 2024, reaching record installed capacity.
On Jan. 8, Türkiye committed to investing $20 billion in energy efficiency programs across the public and private sectors by 2030.
On Jan. 25, as part of efforts to reduce energy reliance on foreign imports, Türkiye earmarked 7,500 megawatts (MW) of renewable energy capacity for industrial use in 2024. This initiative was part of a broader plan to promote energy independence, with a commitment of $5 billion in investments.
On Feb. 23, the World Bank approved a €600 million loan guarantee to help Turkish exporters reduce carbon emissions and remain competitive in the global market.
On the same day, the European Bank for Reconstruction and Development (EBRD) granted a €46 million loan to a Turkish mining company for energy and resource efficiency investments.
On March 28, Türkiye's installed solar capacity surpassed 12,000 megawatts for the first time, reaching 12,425 megawatts.
On April 12, Türkiye set a new record, generating 78.5% of its daily electricity from renewable sources.
On May 16, Türkiye, along with the World Bank and Turkish development banks, signed an agreement for a $1 billion program to accelerate the market transition for distributed energy.
On June 30, Türkiye set a new record in wind power generation, producing a staggering 228,604 megawatt-hours of electricity.
On Aug. 10, UK Export Finance (UKEF) and Poland's export credit agency, KUKE, jointly guaranteed a €249 million loan being arranged by Standard Chartered Bank for Turkish renewable energy investment company Kalyon Enerji, enabling the construction of Türkiye's second-largest solar project to date.
- Natural gas developments
Türkiye accelerated its efforts and set successive records in natural gas and oil production, in line with its vision of becoming an energy hub.
The country also purchased its first floating production, storage and evacuation platform (FPSO) to boost natural gas production. Bayraktar said that the platform will be commissioned in the Sakarya Gas Field in 2026 and will process 10 million cubic meters of gas per day, expected to provide the gas needs of 4 million households.
On Feb. 2, Türkiye's largest private natural gas producer, Thrace Basin Natural Gas Türkiye Corporation (TBNG), announced plans to drill five new wells in the Tekirdag region and Silivri in the Sea of Marmara.
On May 23, Türkiye's Fatih drill ship commenced operations at its new location in the Goktepe-2 well of the Sakarya Gas Field in the Black Sea.
On Aug. 2, Türkiye's drill ship, Abdulhamid Han, headed to the Black Sea to start drilling in the region for new exploration and on Nov 9, the vessel arrived at its duty area.
On Sept. 19, the new member of Türkiye's energy fleet, the FPSO, passed through the Dardanelles.
On Nov. 22, The Istanbul Energy Forum, organized by Anadolu Agency (AA) under the auspices of the Ministry of Energy and Natural Resources with the theme "Common Future, Common Goals," was held at the Istanbul Congress Center with the participation of President Recep Tayyip Erdogan.
The forum hosted 10 ministers from various countries, domestic and international NGOs, representatives of international organizations, academics, media professionals, and prominent figures from the business world, addressing topics such as regional energy sector goals, Türkiye's role in ensuring natural gas supply security, financing the energy transition, and various regional and international agendas in the sector.
By Duygu Alhan and Basak Erkalan
Anadolu Agency
energy@aa.com.tr
