Turkish Energy Minister: Major Project with Italian Eni to Be Announced Soon

Turkish Energy Minister Alp Arslan Birkdar announced that his country intends to sign an agreement with Italian oil company Eni in the field of oil exploration, confirming that an official announcement is imminent but refraining from disclosing its details. He said that his country "will announce soon an important project with Eni," noting that he cannot currently disclose the agreement's terms because they must finalize it first, but it is a major project.

The statements came during the "Italian-Turkish Energy Partnership and Business Matching" event hosted at the Palazzo Vendramin in Istanbul. Birkdar indicated that next week will see the unveiling of the "National Energy Plan 2040," adding that comprehensive electrification of the economy will be its centerpiece.

The minister described three challenges facing Turkey in the energy sector: surging demand, dependence on external sources, and transition toward a low-carbon economy. He recalled that Turkey announced at the COP29 conference in Baku a target of reaching 120 gigawatts of renewable energy, affirming that it will announce "a larger and more ambitious goal" at COP31.

Birkdar pointed out that Italian companies are already participating in Turkish natural gas production in the Black Sea, and that European Union countries are showing increasing interest in Turkey as an alternative to Russian gas. He also praised the Italian SACE institution for financing joint projects between the two countries.