Business · Energy & Commodities · 10 hrs ago
Turkey Seeks Oil Cooperation With Italy’s Eni
Turkey is seeking oil cooperation with Eni, Italy’s energy company, Energy Minister Alparslan Bayraktar said at an event in Istanbul.
He described the proposed project as large, but said the agreement still needs to be finalized.
Bayraktar said Turkey faces rising energy demand, dependence on imports and decarbonization as key challenges.
He said the country’s response will focus on using more electricity across the economy, including in industry and buildings.
A new 2040 energy plan is due next week, and it will also cover renewable power, efficiency and nuclear energy.
Turkey has already set a renewable energy target of 120 gigawatts and plans to announce a more ambitious target at COP31.
Turkey plans to cooperate with Italian energy company Eni on an oil project, Energy Minister Alparslan Bayraktar said.
Bayraktar said the agreement was not yet final and that details could not yet be disclosed.
He said the project would be significant and that an announcement was expected soon.
Speaking at an energy partnership event in Istanbul, Bayraktar also said Turkey and Italy could pursue joint energy projects in other countries.
- Who
- Turkey and Italian energy company Eni.
- What
- They are preparing to cooperate on an oil project. The agreement has not been finalised.
- When
- Bayraktar said an announcement would come soon; no specific date was given.
- Where
- The announcement was made at an Italy-Turkey energy partnership event in Istanbul.
- Why
- Bayraktar said Turkey seeks new partnerships in oil exploration and broader cooperation amid energy challenges.
This story does not have two clearly opposing sides.
Turkey announced a 120-gigawatt renewable energy target at COP29 in Baku.
Bayraktar said Turkey was planning an oil cooperation project with Eni at an energy partnership event in Istanbul.
Bayraktar said Turkey’s National Energy 2040 Plan would be made public.
Bayraktar said Turkey would announce a more ambitious renewable energy target.
- Project partner
- Eni
- Project type
- Oil cooperation
- Minister
- Alparslan Bayraktar
- Event location
- Venice Palace, Istanbul
- Existing renewable energy target
- 120 gigawatts, announced at COP29 in 2024
2 sources
What people are saying
Soon, we will make an important announcement with Eni.
First, we need to finalise the agreement. But this is a big project.
We can establish partnerships not only between Turkey and Italy, or in Italy or Turkey, but also in third countries and different regions.