Türkiye, China sign energy transformation agreement

Minister of Energy and Natural Resources Alparslan Bayraktar, who met with National Energy Administration President Zhang Jianhua, signed a "Memorandum of Understanding on Cooperation in Energy Transformation." Minister Bayraktar shared the plan for the future, saying: "We aim to implement concrete projects as soon as possible."

Setting the roadmap

Minister Bayraktar first met with officials from SPIC, one of China's largest energy companies, which has investments in Turkey. Bayraktar announced on social media: "We have set the roadmap by discussing our projects in the nuclear and renewable energy fields in line with our country's 2053 net-zero target."

Enhancing collaboration

During his visit to China, Bayraktar also met with Minister of Natural Resources Wang Guanghua. Bayraktar assessed the meeting on his social media account, stating: "We agreed to develop our existing and potential cooperation in natural resources and mining, including critical minerals and rare earth elements, in our countries and third countries."

Nuclear energy on table

During a working dinner with National Energy Administration President Zhang Jianhua, Bayraktar discussed nuclear energy and renewable energy. The two countries signed a "Memorandum of Understanding on Cooperation in Energy Transformation" following the meeting. Bayraktar commented on social media after the signing, saying: "With the 'Memorandum of Understanding on Cooperation in Energy Transformation,' we aim to implement concrete projects as soon as possible."

Meetings with companies

Minister Bayraktar also welcomed senior executives from Chinese energy companies to the Turkish Embassy in Beijing, where he met with representatives of Chinese financial institutions and energy exchanges.

Investment opportunities

While discussing new investment opportunities in Turkey, particularly critical minerals, with TCC Company President Liang Jun Xiang and his delegation, Bayraktar also assessed the potential for building both conventional and small modular reactors in Turkey with representatives from CNOS, a leading nuclear company in China. He also discussed different investment models for establishing a battery storage factory in Turkey with a delegation from CATL, one of the world's leading energy storage companies.

Potential projects

In a meeting with CMEC Company President Wang Bo and his delegation, who have carried out significant projects in Türkiye with both private and public institutions such as Eti Maden and BOTAS, Minister Bayraktar discussed potential projects that could complement existing investments. He also explored investment opportunities in large-scale renewable energy, green hydrogen, and mining sectors with representatives from ENERGY CHINA and POWERCHINA, two major groups in China.

Visit to the US

Earlier in May, Minister Bayraktar initiated the Energy and Climate Dialogue Program between Türkiye and the United States during his visit to Washington, D.C., with counterpart Jennifer Granholm. He also attended the signing ceremony of an agreement between BOTAS and U.S. energy company ExxonMobil, securing Turkey's supply of approximately 2.5 million tons of LNG annually for 10 years.

June 03, 2024 04:18 PM GMT+03:00