Türkiye sees no energy supply risk

Minister of Energy and Natural Resources Alparslan Bayraktar answered questions regarding the agenda during a live television broadcast.

Assessing the tensions in the Middle East, Bayraktar stated that the energy crisis experienced during the pandemic period had been a demand crisis, whereas the current situation had evolved into a supply crisis. Commenting on the effects of developments in the Strait of Hormuz on Türkiye, Bayraktar said:

“For us, in terms of supply security, this region currently poses no risk regarding oil supply. There is also the natural gas dimension of the issue. Again, we do not have a dependency on Hormuz. As Türkiye, we procure LNG from approximately 12 different countries. We also receive natural gas via pipelines from four different countries. We have not caused any supply security problems for our country in either natural gas or oil up to this point. At the moment, there is no problem regarding energy supply security in our country.”

Bayraktar emphasized that it is critically important for both Türkiye and the world that this process remains short-lived.

“WE WILL RELEASE 11 MILLION BARRELS”

Recalling that the International Energy Agency requested member countries, including Türkiye, to contribute part of their oil reserves, Bayraktar stated:

“As a country, we announced that we would release approximately 11 million barrels from our own reserves over a 90-day period. This is one of the significant elements that may help suppress further abnormal increases in prices, which have already risen substantially.”

“WE WILL MAKE AN ASSESSMENT”

Evaluating whether the developments in the Middle East would affect energy prices, Bayraktar said:

“Especially with these latest developments, we need to reassess the new period. We will make an evaluation in April.”

“2.4 MILLION TONS OF OIL ARRIVED LAST YEAR”

Bayraktar also made statements regarding the flow of Iraqi oil to Türkiye. He noted:

“In 2025, approximately 2.4 million tons of oil flowed through this pipeline to refineries in Türkiye.

“THE FLOW HAS STARTED”

Speaking about the section of Iraqi oil reaching Ceyhan, Bayraktar said:

“As of now, the flow has started. There will be a daily flow of approximately 170,000 to 250,000 barrels.”

“ITS CAPACITY IS 1.5 MILLION BARRELS”

Bayraktar also stated that the pipeline has a capacity of 1.5 million barrels and added:

“We proposed the following: let us extend this pipeline from Kirkuk down to Basra. Today, Iraq exports approximately 3 million barrels of crude oil per day. Nearly 1.5 million barrels of this — almost 50 percent — could potentially be transported through this line to new customers, especially in the Mediterranean basin. We have been saying this for years, but perhaps now our counterparts understand our proposal better.”