The General Directorate of Mineral Research and Exploration (MTA) will be able to extend their research overseas and establish companies abroad to sustain research and exploration activities, according to newly-enforced electricity market law on Friday.
According to the new law which was approved early on Friday, the MTA will be given permission to establish privileged partnerships and allow for cooperation with both national and international entities. This will also entail the purchase and sale of stocks, shares and other partnership interests in addition to opening offices abroad.
The General Assembly of Parliament passed the electricity market law in early June which aims to lower electricity bills, support local resources and local production to reduce the country's dependency on energy imports. The law also includes regulations on renewables, nuclear power, licensing, electricity tariffs and costs of leakages and losses.
The new law also enacted regulations regarding coal mines in Turkey. Accordingly, with permission from the Ministry of Energy and Natural Resources of Turkey, separate mining licenses in the same mines will be allowed provided that no loss of reserves ensue.
Additionally, the law aims to produce coal gas through safely extracting it from land surfaces and coal mines to provide added value to the economy in the form of ‘natural gas'.
Turkey aims to benefit more from domestic sources for electricity production. Currently, it uses around 37 percent of its current lignite and coal reserves and its local share in electricity generation is 13 percent. Turkey's coal reserves make up some 15 billion tons.
Reporting by Muhsin Baris Tiryakioglu
Writing by Ebru Sengul