According to the compilation made from the Medium Term Program (MTP) for the years 2024-2026, the sanctions imposed on Russia after the Russia-Ukraine War caused commodity prices to rise last year.
Turkey's energy imports reached historical levels with 96.5 billion dollars. The decrease in energy imports after the downward trend in commodity prices was effective in this development.
This year, energy prices decreased significantly compared to last year's levels due to the increase in gas stocks in Europe and the weak demand in China, which was below expectations.
Turkey's energy imports amounted to 41 billion dollars in the January-July period, with a decrease of 26.2 percent compared to the same period of the previous year.
In parallel, it is estimated that energy imports will decrease by 26.4 percent compared to last year, reaching 71 billion dollars, reaching 77.3 billion dollars in 2024 and 76.3 billion dollars in 2025.
The annual average price of Brent type crude oil, which was 100.8 dollars per barrel last year, is expected to be 82.3 dollars in 2023, 86.7 dollars in 2024 and 85.9 dollars in 2025.
EXTERNAL DEPENDENCE ON ENERGY WILL BE REDUCED
The program also included targets aimed at reducing foreign dependence on energy. Accordingly, oil and natural gas exploration and production activities will be accelerated. Production fields abroad, where TPAO operates with different partnerships in the field of energy, and fields with potential will be evaluated.
The storage and recycling capacities of natural gas storage facilities will be increased. The added value of domestic natural gas will be increased by establishing a facility that will use Sakarya gas as input.
THE USE OF LOCAL ELECTRIC VEHICLES WILL BE SUPPORTED
The MTP also included basic elements regarding electric vehicles. Accordingly, the charging station network will be developed in order to popularize electric vehicles, and especially the use of domestic electric vehicles will be supported.
Technological capabilities and investments in new generation energy and transportation systems such as energy-intensive battery technologies, connected vehicles, fully autonomous (driverless) mobility systems and off-rail systems will be increased.
Investments in semiconductor, electric vehicle, battery and critical technology products in their value chain will be encouraged.