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Yusufeli Dam will give Turkey $221M annually: President

- Turkey has many reasons to look to future with hope, says President Erdogan

home > Energy Projects, Turkey 08.06.2020 09:16 Övunç Kutlu

Yusufeli Dam will give Turkey $221M annually: President

A new dam and hydroelectric power plant built in Turkey’s northeastern Artvin province will add 1.5 billion Turkish liras (over $221 million) to the economy every year, the country’s president said on Saturday.

Addressing the opening ceremony of the Yusufeli Dam, built on the Coruh River, via video link, Recep Tayyip Erdogan said the dam was completely the product of Turkish engineers.

He said the new dam has a height of 275 meters, equivalent to a 100-storey building, and will generate up to 540 megawatts when it starts working at full capacity next year.

The president said the ruling Justice and Development (AK) Party has focused on water resources during its 18-year rule and has doubled the number of irrigation and flood protection facilities in this period.

“Despite all the efforts of previous governments, Turkey only managed to build 276 dams until 2003. But in 18 years, we have put 585 new dams into service,” said Erdogan.

“Similarly, before 2003, Turkey had just 105 hydroelectric power plants. We have added 576 more hydroelectric power plants in just 18 years.”

- Hope for post-pandemic future

The president also spoke about Turkey’s fight against COVID-19, saying the country had successfully managed supply of health and hygiene products, along with food, during the pandemic.

“Turkey has goals beyond compensating for the losses we experienced due to the measures taken against the epidemic in recent months. We have many reasons to look to our future with hope,” said Erdogan.

He added that Turkey was implementing its normalization plan step by step, without compromising on the people’s health or the country’s priorities.

As part of the normalization process, which commenced on June 1, Turkey has allowed restaurants, cafes, and similar businesses to reopen.

Domestic flights have also resumed in the country, where at least 133,400 patients from a total of 168,340 have recovered so far.

Turkey has conducted more than 2.26 million COVID-19 tests and the death toll in the country stands at 4,648.

Reporting by Ferdi Turkten

Writing by Burak Dag

Anadolu Agency

energy@aa.com.tr



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- EU has frozen expansion of list of sanctions on officials of Turkish Petroleum Corporation, say EU diplomats
19.03.2021 Oil , Refining/Petro Chemistry , Energy Diplomacy , Energy Projects , Europe

Talking with Turkey, EU eyeing mutually beneficial ties

- Top EU officials to focus on cooperation, stability in E.Med during talks with Turkey’s president, according to EU source
19.03.2021 Energy Diplomacy , Energy Security , Energy Projects , Turkey , Europe

US warns entities to abandon Nord Stream 2 gas pipeline

- Any entity involved in pipeline risks US sanctions, Secretary of State Antony Blinken says
19.03.2021 Natural Gas , Projects , International Organization , Energy Projects , Eurasia

Fitch raises oil price forecast due to stronger demand

- Brent oil price for 2021 is revised up to average $58 a barrel from $45 a barrel
19.03.2021 Oil , Stock Market , Energy Diplomacy , Energy Projects , Americas

Turkey announces landmark new economic reform package

- Reforms aim to boost investment, production, jobs, and exports, says President Recep Tayyip Erdogan
16.03.2021 Projects , Invesments , Renewable , Energy Projects , Turkey , General

Turkey announces landmark new economic reform package

- Reforms aims to boost investment, production, jobs, and exports, says President Recep Tayyip Erdogan
13.03.2021 Projects , Stock Market , Energy Diplomacy , Energy Projects , Turkey

Israel in contact with Turkey over gas: Netanyahu

- Netanyahu says Israel also holding talks with Egypt, Greece, Greek Cypriot administration
12.03.2021 Natural Gas , Energy Diplomacy , International Organization , Energy Projects

Egypt's EEZ could extend via maritime deal with Turkey

- Egypt will gain 21,500 square kilometers of its north-sea border if it reaches agreement with Turkey
10.03.2021 Energy Security , International Relations , Energy Projects , Middle East-Africa

Sudan warns Ethiopian dam filling may cut water supply

- Sudanese Irrigation Ministry says it warned farmers, water stations of possible falls in water levels
10.03.2021 Electricity , International Organization , Energy Projects

Turkey, Turkish Cyprus sign financial cooperation pact

- Turkey to continue to do its best for Turkish Cypriots to continue living in peace, says country's vice president
04.03.2021 Energy Diplomacy , Energy Projects , Turkey

'Turkey should follow EU's path towards green economy'

- Turkish private sector paying greater attention to EU's green deal, says EU diplomat
03.03.2021 Renewable , International Relations , Energy Projects , Turkey

Qatar awards EPC contract for North Field LNG to Samsung

- Contract, valued at more than $2B., is awarded on lump sum basis and is second major EPC contract award for NFE project
01.03.2021 Natural Gas , International Relations , Energy Projects , Middle East-Africa

Norway's sovereign fund invests $812 million in Turkey

- As at the end of December 2020, fund had over $800B in investments in 34 different Turkish firms, including four in energy
28.02.2021 Finance , Energy Projects , Turkey , Europe , General

Turkey's energy import bill down 35.8% in January 2021

- Last month, overall energy imports fall due to rise in country's domestic and renewable energy production
26.02.2021 Natural Gas , Oil , Projects , Stock Market , Energy Projects , Turkey

Biden signs order to bolster critical supply chains

- 'We shouldn't have to rely on a foreign country, especially one that doesn't share our interests or values,' president says
26.02.2021 Projects , Stock Market , Energy Projects , Americas

Turkey: Economic confidence stands at 95.8 in February

- Confidence index at 95.8 in February, down 0.5% from previous month, official data shows
26.02.2021 Projects , Stock Market , Energy Projects , Turkey

US led global defense spending in 2020: Report

- US, Chinese defense budgets accounted for almost two-thirds of increase in 2020, according to military spending report
26.02.2021 Energy Security , Energy Projects , Americas

Brent oil price down 0.56% for week ending Feb. 19

- After oil prices rise due to weather-related supply disruptions in Texas, falling demand in refineries causes price drops
20.02.2021 Oil , Refining/Petro Chemistry , Energy Projects , Americas

UN: US on pace to hit Paris climate goals despite Trump

- Contributions from states, civil society offset lack of US contributions in past four years, says Antonio Guterres
19.02.2021 Coal , Renewable , Energy Diplomacy , Energy Projects , Americas

Turkey, Azerbaijan aim $15B trade volume by 2023

- 2 countries are important political, trade partners, says Turkish vice president
19.02.2021 Natural Gas , Energy Diplomacy , Energy Projects

Turkey to use first gas from Black Sea in Q1, 2023

- Turkey will construct 150-kilometer-long subsea pipeline from field to the Filyos shore in Zonguldak
13.02.2021 Natural Gas , Finance , Energy Projects , Turkey , General

Qatar to construct world's largest LNG project

- Project, one of largest energy investments over past years, will raise LNG production by 43% annually to 110 million tons
11.02.2021 Natural Gas , Energy Security , Energy Projects , Middle East-Africa

Turkish scientist warns of pace of global warming

- Temperatures could be up to 6C hotter by turn of century, says Doganay Tolunay
27.01.2021 Renewable , Energy Projects , Turkey

S. Arabia to invest $2.5 billion in Uzbekistan's energy

- Uzbekistan aims to generate 40% of electricity from renewable sources, constructing 30 solar and wind power plants by 2031
25.01.2021 Thermal , Wind , Energy Projects , Asia , Middle East-Africa

Renewables overtake fossil fuels in Europe in 2020

- Europe's electricity in 2020 was 29% cleaner than 2015 with carbon dioxide per KWh dropping to 226 grams from 317 grams
26.01.2021 Finance , Renewable , Energy Projects , Europe

Keystone XL pipeline in political gridlock again

- Canada-US pipeline extension is in limbo as it once again becomes political tool in fight against climate change
23.01.2021 Oil , Energy Projects , Americas

Biden signs 15 orders in sweeping erasure of Trump acts

- President describes efforts as 'starting points,' saying his policy agenda is 'bold and vital'
21.01.2021 Energy Diplomacy , Energy Security , Energy Projects

Baghdad to pump oil to Beirut in 2021

- Volume of imports, which is not clear yet, will be limited to cover major part of Beirut's fuel needs to generate electricity
14.01.2021 Oil , Energy Security , International Relations , Energy Projects , Turkey

Qatargas delivers first commercial LNG to Philippines

- Achievement will enable transport of considerable volumes as efficiently as possible into key markets, says Qatargas CEO
12.01.2021 Lng/Lpg , Energy Security , International Relations , Energy Projects , Middle East-Africa

How aftermath of Gulf crisis will shape energy trade

- Lifting of blockade will save Qatar extra shipping costs of oil and LNG exports, and pave way for energy deals, expert says
13.01.2021 Natural Gas , Oil , Energy Security , International Relations , Energy Projects , Middle East-Africa

Good infrastructure, incentives key for Turkish EV sales

- Consequences of novel coronavirus (COVID-19) pandemic will affect the numbers of individual car ownership
12.01.2021 Electricity , Finance , Renewable , Energy Projects

Germans want more clean energy: YouGov report

- Clean energy generated more than half of Germany's electricity mix in 2020 and most Germans are in favor of more expansion
11.01.2021 Finance , Renewable , Energy Projects , General

TurkStream celebrates first anniversary of its launch

- Since start of TurkStream's operation, Gazprom has increased throughput of pipeline by 2.2 times, Alexey Miller says
08.01.2021 Natural Gas , Energy Security , International Relations , Energy Projects , Eurasia

Turkey's energy import bill down 24.8% in November 2020

- Last month, overall energy imports fall with increase in country's domestic and renewable energy production
02.01.2021 Oil , Energy Diplomacy , Energy Projects , Turkey

Venezuela's last glacier melting due to global warming

- Researchers report sobering finding by evaluating climate change effect from May 2019 to October 2020
31.12.2020 International Relations , Energy Projects

Filyos to be Turkey's new energy hub: Energy min.

- Discovery of 405 billion cubic meters of natural gas will come onshore at Filyos and connect to main grid from there
31.12.2020 Natural Gas , Energy Diplomacy , Energy Projects , Turkey

Iran reverts to normal gas flow rates to Iraq

- Oil-rich Iraq is suffering from major electricity crisis following drastic reduction in natural gas supplies from Iran
30.12.2020 Electricity , Natural Gas , International Relations , Energy Projects , Middle East-Africa

Canadian Solar finalizes 290MW solar sale in Italy

- Falck Renewables buys remaining 30% share of Big Fish and Iron solar projects totaling over 290 megawatts in Sicily
24.12.2020 Finance , Solar , Energy Projects , General

Iraq’s central bank devalues national currency

-Iraq says devaluation is necessary to overcome economic crisis brought by low oil prices
21.12.2020 Stock Market , Energy Projects , Middle East-Africa

Meeting on reviving Libya’s economy ends in Geneva

- Economic, banking, oil and finance officials from all sides agree to January meeting to continue quest to resolve crises
16.12.2020 Energy Diplomacy , Energy Security , Energy Projects

Climate strikes, environmental protests in November 2020

- Environmental groups, activists around globe continue protesting online, mostly due to increasing COVID-19 cases
16.12.2020 Renewable , Energy Projects

Turkey, Italy explore greater economic cooperation

- Both countries preparing for new cooperation in areas of infrastructure, energy, and especially transport sector
11.12.2020 International Relations , Energy Projects , Turkey , Europe

Aramco, Baker Hughes form JV for non-metallic products

- Facility to produce onshore non-metallic pipelines, including reinforced thermoplastic pipes from composite materials
08.12.2020 Oil , Energy Security , Energy Projects , Middle East-Africa

Esenboga Elektrik purchases 11 solar power plants

- Approx. 20 million kWh of solar energy, $2.66M of sales revenue and $2.5M of net income are expected in 2021 from plants
08.12.2020 Electricity , Energy Projects , Turkey

COVID-19 pandemic deepens energy efficiency slowdown

- Energy efficiency’s weakest progress in decade threatens international climate goals, according to IEA report
03.12.2020 Finance , Renewable , International Organization , Energy Projects , World

Turkey, Qatar ink 10 new deals

- Turkish president, Qatari emir attend closed-door meeting in Ankara
27.11.2020 Energy Diplomacy , Energy Security , Energy Projects , Turkey , Middle East-Africa

Oil, gas discoveries resilient in 2020 despite pandemic

- In discovery volumes, Russia’s Gazprom leads with total discovery of 1.51 billion barrels of oil equiv.: Rystad Energy
17.11.2020 Natural Gas , Oil , International Organization , Energy Projects

Qatargas to ship 1st LNG to China's Tianjin Terminal

- Al Mafyar is first Q-Max LNG vessel to call at Tianjin LNG receiving terminal
17.11.2020 Lng/Lpg , International Relations , Energy Projects , Asia , Middle East-Africa

Pope Francis congratulates Biden on election win

- Incoming US second Catholic president has common goals with pope to find unity, climate change solutions
13.11.2020 Renewable , Energy Security , Energy Projects

Eni to use artificial light technology to trap CO2

- Pilot could allow a plant with a 1 hectare footprint to produce 500 tons of biomass per year, trapping 1,000 tons of CO2
13.11.2020 Renewable , Energy Projects , Europe

Fatih drillship starts drilling in Turkali-1 well

- Drilling in well will take 75 days, says Turkey's Energy and Natural Resources Minister
06.11.2020 Natural Gas , Oil , Energy Diplomacy , Energy Projects , Turkey

Turkey's energy import bill down 17.7% in September 2020

- Despite a fall in overall energy import bill, Turkey increases its crude oil purchases last month
31.10.2020 Oil , Stock Market , Energy Projects , Turkey

ExxonMobil plans reduction to US staffing levels

-Company will slash approximately 1,900 jobs in its management offices in Houston, Texas
30.10.2020 Oil , Energy Diplomacy , Energy Projects , Europe

USAID to provide $28M for South Asian energy market

- Fresh investments will help improve access to regional energy markets, making them affordable, secure and sustainable
30.10.2020 Energy Diplomacy , Energy Security , Energy Projects , Asia

Valeura sells shallow convent. gas business in Turkey

- Transaction will bolster Valeura’s growth strategy, says Valeura
21.10.2020 Natural Gas , Energy Projects , Turkey

Iraq plans to ramp up oil output by 2027

- Iraq's capacity will not be less than 7 million barrels per day in 2027, says Iraq's oil minister
21.10.2020 Oil , Energy Security , Energy Projects , Middle East-Africa

Top Turkish business body calls for green economy

- New economic system must be defined, ways of doing business revised, says TUSIAD vice president
21.10.2020 Renewable , Energy Projects , Turkey
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