Azerbaijan signed a natural gas agreement for 33 billion cubic meters.

Historical Natural Gas Agreement with Azerbaijan

The Minister of Energy and Natural Resources of the Republic of Turkey, Alparslan Bayraktar, shared the details of the new agreement signed with Azerbaijan with the public. The agreement covers a total of 33 billion cubic meters of natural gas supply, with the supply process set to begin in 2029 and last for 15 years.

Abşeron Field and Gas Production

Bayraktar announced that 2.25 billion cubic meters of gas will be supplied annually from Azerbaijan's Abşeron Field. This situation will enhance Turkey's energy security for long-term gas imports. It was stated that final negotiations would be concluded in the coming days after the signatures of the agreement have been completed.

Energy Prices Linked to the Dollar and Transformation in Price Policy

Minister Bayraktar stated that energy prices would vary according to the inflation rate. He noted that their goal is to adjust prices based on inflation once a year, saying, "We are trying to make the supports more effective by focusing on average city-based consumption."

The Impact of Venezuela on the Energy Market

Regarding the political uncertainties and events in Venezuela and their potential effects on the global energy markets, Bayraktar assessed, "The production situation in the region has less than 1% impact on the world oil market."

Drilling Activities in Somalia

Bayraktar emphasized the Çağrı Bey Drilling Ship and the 7-kilometer drilling operation to be conducted in Somalia. He stated that the water depth for drilling operations is 3.5 kilometers, adding, "After reaching the seabed, we will conduct drilling 3.5 kilometers deeper underwater."

Akkuyu Nuclear Power Plant Targets

The Minister stated that they aim to produce the first electricity at the Akkuyu Nuclear Power Plant this year and reported that negotiations are ongoing for the Sinop and Thrace projects. He expressed that 2026 will be a critical period for these projects.