Declaration of discount of the Minister of Energy

The Minister of Energy and Natural Resources, Fatih Dönmez, pointed out that the fall in natural gas prices was reflected in the markets in recent months and stated that with this development, a 15-16 percent decrease in wholesale prices for Electricity may be possible from February.

Dönmez, speaking at the “Turkey Century Targets in Energy” program organized by the Group of Architects and Engineers, said that exploration and drilling activities in the Mediterranean are among the examples that best explain the perspective of energy independence.

Reminding that the main goal was stated as “Independent Energy, Strong Turkey” when declaring the National Energy and Mining Policy, Dönmez said, “We have invested heavily in domestic and renewable energy to achieve this goal. With the Resources Area tenders of Renewable Energy (YEKA), we have started a new process in this area both in terms of production and technology”.

‘INDEPENDENCE DEPENDS ON SUCCESS IN DISCOVERIES’

Dönmez said that energy independence depends on the success of oil and natural gas exploration and discovery.

Noting that they are engaged in intensive onshore and offshore exploration and drilling activities in this context, Dönmez recalled that 710 billion cubic meters of natural gas reserves were discovered as a result of exploration work in the Black Sea.

Dönmez noted that they plan to commission the first unit of Turkey’s first nuclear power plant this year.

Stating that the capacity and number of underground natural gas storage facilities increased during this period, Dönmez said: “We had 2 onshore liquefied natural gas (LNG) terminals. By adding our floating storage and regasification unit (FSRU) facilities, we have strengthened the flexibility of security of supply. We have 5 terminals, 3 FSRU and 2 LNG. Our third FSRU ship is loading these days. It will also be approaching our terminal like the first week of February”.

Dönmez said that the diversity of resources has increased with two giant projects such as the Transanatolio Natural Gas Pipeline (TANAP) and TurkStream.

Referring to the studies in the mining field, Dönmez said: “We have implemented our sales strategy oriented towards high-end products. Boron carbide is one of them. We will open it. We laid the foundations of our ferrobor plant. We will open this year. The pilot production plant of our lithium plant is finished. We evaluated the data from the first year. This year, we will lay the foundation for our facility that will carry out full-scale production.”

Noting that they discovered the world’s second-largest reserve of rare earth elements, Dönmez said: “There are about 17 rare earth elements on the periodic table. We found 7-8 of them in Beylikova,” he said.

GOAL TO REDUCE ENERGY ADDICTION BY 50 PERCENT

– “Our goal is to reduce foreign dependence on energy from 70 percent to 50 percent by 2035”
Noting that Turkey is now breaking production and export records, Dönmez said: “Today, we are entering a new era with the Turkish century. We are beginning a new era in which we will multiply the gains we have obtained so far and where we will obtain the return of all the investments in infrastructure that we have made so far”.

Dönmez recalled that in this context, they shared the Turkish National Energy Plan, the energy roadmap that will lead Turkey into the new century, with the understanding of “Energy of the Century”.

Explaining that the related plan includes Turkey’s energy strategy until 2035 in the medium term and 2053 in the long term, Dönmez said: “Therefore, our goal is to reduce our foreign dependence on energy from 70 percent to 50 percent by 2035. “.

Dönmez noted that they intend to provide incentives for domestic production of the electrolyser used in hydrogen production, saying: “We have to develop our domestic and national technologies into energy. We have gained real momentum in the development of energy technologies recently,” he said.

Pointing out that in the last 5 years 60% of the installation of wind energy has been achieved, 77% of solar and more than 50% of geothermal and biomass, said Dönmez, “we say that the more domestic the resource , more domestic the technology. We are ready to provide all kinds of support to everyone who invests in the development of energy technologies.” he used the phrase.
Dönmez affirmed that this was reflected after the relaxation in natural gas prices in recent months, and said:

‘THE DISCOUNTS WILL KEEP COMING’

“As long as this situation continues, these discounts will keep coming. Of course, natural gas has a significant impact on electricity generation when natural gas drops. Likewise, we hope it reflects (electricity) there. Maybe there will be a tension at the level of 15-16 percent in wholesale electricity prices from February”.

Dönmez said that natural gas was brought to 102 districts last year and that about 80 percent of Turkey’s population has access to natural gas. (AA)