Turkey's 2040 Energy Vision and Investment Plan Announced

Minister of Energy and Natural Resources Alparslan Bayraktar shared Turkey's energy vision extending to 2040 at a meeting organized in cooperation with DEİK and TAİK. Within the framework of the new energy architecture, planned to be announced to the public at the end of October or early November, over $300 billion in investments is projected.

Three Main Strategic Pillars

Turkey's strategy in the energy field is built upon three main pillars: demand, dependency, and decarbonization. Paying approximately $70-80 billion annually for energy imports, the country aims to reduce foreign dependency and achieve its carbon-neutral economy target by 2053.

Vision 2040 and Policies

The program, dubbed the New Energy Architecture or Vision 2040 for Turkey, is planned to be announced in late October or early November ahead of COP31. While electrification forms the foundation of this comprehensive vision, the policy areas have been determined as renewable energy, energy efficiency, nuclear energy, oil, natural gas, and minerals.

Investment Targets and Grid Strengthening

Total investments planned in the energy and mining sectors until 2040 are expected to exceed $300 billion. It is projected that at least $30 billion will be invested in the electricity transmission grid by 2035, and at least $50 billion in the distribution grid.

Public Companies and Production Targets

Public companies such as Turkish Petroleum, Eti Maden, BOTAŞ, EÜAŞ, and TEİAŞ are targeted to be reformed and turned into national champions. In line with this, Turkish Petroleum aims to increase its daily production to 550,000 barrels in 2028 and 1 million barrels in 2035.