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Türkiye- Syria Cooperation: Minister Bayraktar Reveals BP Deal

Alparslan Bayraktar

Energy and Natural Resources Minister Alparslan Bayraktar met with journalists at a program hosted by the Zero Waste Foundation to detail Türkiye’s new “energy architecture.” The Minister announced major international collaborations, including ongoing joint studies on oil and mineral resources in Syria and a forthcoming landmark agreement with BP.

The Cost of Global Instability: The 600 Billion TL “Tax Shield”

Minister Bayraktar provided a sobering analysis of the economic impact of the Strait of Hormuz crisis. He revealed that the state is making significant fiscal sacrifices to protect citizens from soaring global prices.

  • Tax Revenue Loss: Due to the Eşel Mobil (Sliding Scale) system, the Treasury is expected to forgo 600 billion TL in tax revenue by year-end to prevent global price hikes from being passed on at the pump.

  • Additional Import Costs: If oil prices average $100 per barrel, Türkiye would incur an additional $13.6 billion in energy costs. At $125, this burden surges to $24 billion.

Strategic Expansions: Syria, Somalia, and BP

Türkiye is entering a new phase of energy diplomacy, focusing on “connectedness” and international production.

  • Syria: Joint technical studies are underway for both mining and oil resources. The Minister expressed specific interest in several fields in Northeast Syria.

  • The “Surprise” BP Deal: Following recent cooperation agreements with Exxon, Chevron, and Shell, Bayraktar announced that a major deal with BP is at the signing stage and that it will be “surprising” in scope.

  • Global Footprint: Through Turkish Petroleum (TPAO), Türkiye aims for a production target of 1 million barrels per day, with active projects in Somalia, Libya, Pakistan, and Central Asia.

Modern Energy Architecture: The “Electrification” Pivot

The Minister emphasized that the next 30 years will be defined by the “Electrification of Türkiye.”

  • Transport Revolution: By 2035, the Ministry projects 6 to 8 million electric vehicles on Turkish roads.

  • Infrastructure Links: Plans include extending the Iraq-Türkiye pipeline to Basra, bringing Turkmen gas across the Caspian, and establishing electricity transmission lines via Saudi Arabia, Jordan, and Syria.

  • Zero Waste & Efficiency: Partnering with the Zero Waste Foundation, the Ministry will launch a national “energy efficiency mobilization.” Bayraktar noted that the “cheapest energy is the energy you don’t use.”

Nuclear and Rare Earth Developments

  • Akkuyu & Sinop: While Akkuyu has faced minor equipment and financing delays due to sanctions, Bayraktar confirmed that Russia remains a committed partner. Meanwhile, talks for the Sinop Nuclear Plant continue with China, South Korea, and Canada.

  • Rare Earth Elements (REE): Following China’s export ban on REE technology, Türkiye is developing its own Critical Raw Materials Strategy. A new board will soon be established to oversee the transformation of these minerals into high-tech end products.

Final Warning to Industry: Referring to recent labor disputes at Doruk Madencilik, Minister Bayraktar took a hard stance: “I will never grant a license to this company again. If you sell the coal and take the money, you must pay your workers.”

Source: bigpara

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