Interesting Facts About the Energy Industry and Market of Türkiye

Natural Gas 

 -Turkey operates 5 LNG terminals, and 3 of them are FSRU terminals. 

-Turkey's reliance on long-term contracts with Gazprom has been decreasing since 2019, replaced by spot LNG. 

-Between 2022 and 2023, Turkey's pipeline gas imports decreased by 16%, and LNG imports increased by 26%. 

-Turkey's natural gas export increased by 8bcm between 2022 and 2023. 

-The production is expected to increase further due to natural gas  

discovery in the Black Sea. 

-Turkey plans to double its gas storage capacity between 2023 and 2028. 

Renewable Energies 

 -Turkey is expected to rise from 12th rank to 10th rank in the world regarding renewable energy capacity by 2027. 

-This will make Turkey the 4th largest renewable energy market in Europe. 

-Between 2022-2027, Turkey expects to increase its renewable energy capacity by a whopping 64% 

-Solar energy and wind power will have the lion's share in this increase with 49% and 24% respectively. 

-Turkey also plans to fully utilize its hydroelectric potential and increase renewable energy's share in electricity production from 24% to 30%. 

-After the US, Philippines and Indonesia, Turkey is the world's 4th largest country with geothermal power generation capacity. 

Electricity 

-Turkey is Europe's 6th-largest and the world's 14th-largest electricity market.

-Approximately 56% of Turkey’s electric power generation capacity consists of renewable energy. This makes Turkey the 5th generator of renewable energy in Europe and the 11th-largest globally. 

-According to Turkey's 2020–2035 National Energy Plan, Turkey's power generation capacity will increase by a whopping 79% between 2023-2035. 

-The share of renewable energy in electricity production will increase to 64%. 

-Solar energy's share in electricity production will increase by 432%, and wind power's share will increase by 158%. 

Nuclear Power 

-Russian Rosatom is currently building Turkey's 1st nuclear plant. 

-The 1st out of the 4 reactors being built is expected to finish by October 2024. 

-Russian Rosatam and South Korean KEPCO have been interested in the second plant's construction since 2023. 

-China is planning to build Turkey's 3rd nuclear plant. 

-If this project comes true, it will be China's largest overseas investment so far.