Turkey Electricity - Turkey Electricity

Turkey has relatively good energy production potential. One estimate places the economically feasible hydroelectric potential at around 29,500 megawatts, which would allow annual production to reach roughly 100,000 gigawatt-hours in years with normal rainfall. Lignite is the second most important potential source of energy, with proven and probable deposits put around 6.4 billion tons. Turkey's proven and estimated petroleum stocks are equivalent to about three years' consumption. Proven reserves are estimated at about 16 million tons, and enhanced oil-recovery techniques may allow extraction of another 30 million tons. Proven reserves of natural gas total about 12.4 billion cubic meters, and reserves of hard coal about 1 billion tons. Turkey's geothermal resources are also considerable. Turkey also has abundant reserves of renewable energy, such as solar, wind.

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Energy rising as Turkey’s investment star. The gradually increasing liberalization of the energy market, the formation of established standards, the need for 4,000 megawatts of additional electricity every year, the expected privatization of public electricity facilities and the incentives for energy investments are all attractive factors that are making major companies pour capital into this business. All in all, analysts are expecting that the energy market will be full steam ahead thanks to the tough competition that is arising in this atmosphere.

Denmark eyes energy sector in Turkey

Turkey is looking for alternative energy sources to meet its increasing energy demand, thus there is great potential for cooperation between Turkey and Denmark, said Keld Mosgaard Christensen, the Danish consul general in Istanbul, in an interview last week with the Turkish Daily News.

The Turkish energy market is booming and Danish firms are increasingly aware of this fact, according to Christensen. The interest of the firms has lately been concentrated on the wind energy sector. Turkey has enormous wind potential and within a matter of years this will develop into a very significant market. With a 23% market share in 2007, the Danish firm Vestas, which claims to be the world leader in modern energy, opened an office last year in Istanbul. Numerous Danish firms come to Turkey on fact finding missions, with the aim of trying to seize investment opportunities. Although there is room for improvement, the Turkish government's enactment of new laws and regulations have created a more investment friendly environment, according to Danish officials.

Turkey offers Japan to cooperate for Iraq's energy

"Turkish Petroleum Corporation and other Turkish oil companies could collaborate with Japanese firms as consortiums to develop oil production fields and open new fields," the AA quoted Tuzmen as saying following his meeting with a group of Japanese businessmen and Japan's Liberal Party lawmakers. Tuzmen said giant projects to rehabilitate and reconstruct Iraq's oil refineries would start in the near future and the companies should join forces in order to have influence in the Iraqi energy market.

Turkey promises action to meet EU energy efficiency standards

The government has placed energy efficiency on its legislative agenda as a part of Turkey's drive to integrate into the European Union. A new project seeks to provide efficient use of energy, especially in heating insulation and prevent the inefficient use in white goods and other electric-powered household appliances.

Following a rescheduling, with a target date of 2013, the government is expected to officially introduce the National Programme Draft of 2008 this month, which outlines Turkey's roadmap to achieving EU membership. Among other things, this draft notes that a significant lack of investing took place beginning in the 2001 transition to a more open energy sector, and medium term reduced supplies of electricity are anticipated. Authorities note that energy measures required as part of the EU accession process seeks to prevent supply shortfalls in electricity in the medium term, while maintaining adequate energy supplies in the long term.

Turkey's Energy Minister in Denmark for wind turbine projects

Turkey's energy minister has invited Danish businessmen to invest in construction of wind turbine in Turkey. Energy & Natural Resources Minister Hilmi Guler, who is currently in Denmark as the official guest of Danish Climate & Energy Minister Connie Hedegaard, met officials from the Danish Energy Agency (DEA) and the Danish Confederation of Industry. He also visited some power stations and wind energy areas.

Industrialists to benefit from nanotech lubricants produced by a Turkish company

The NNT Nanotechnology Boron Company of Turkey has been producing "Borpower", the first nanotech lubricant in the world. In an interview, NNT Nanotechnology Boron Products Corp Director General Mehmet Can Arvas said Bor Power products, which could be used for closed-cycle engines for 15-20 years and which remarkably decreased energy expenditures, attracted a great attention of the world.

Arvas said Bor Power GBX lubricants which have been used in the automotive sector would also be useful for the industrialists. "Borpower products have been exported to several developed countries. We are continuing to show the power of Turkish boron to the world. This extraordinary product will provide remarkable contributions to Turkish industrialists," he stated.

American Superconductor gets Turkish contract

American Superconductor said it had licensed a wind turbine design to Turkish manufacturer Model Enerji Ltd. Model Enerji plans to begin mass production of the 1.65 MW turbine at the end of 2009. In addition to an upfront license fee, Devens-based AMSC will receive a royalty payment for the first 425 turbines. It didn't disclose the value of the contract. In premarket trading Wednesday, AMSC shares were up 38 cents, or 1.2 percent, at $31.31.

Enerjisa and Verbund get 1 billion Euro financing

Enerjisa, a joint subsidiary of Turkey's Sabanci Holding and Austrian Elektrizitätswirtschafts-Aktiengesellschaft, or Verbund in short, signed a 1 billion Euro financing package for the first phase of the company's investment program. “This is a rare and compelling international emerging market growth play,” Matthew McEachran, an analyst at Kaupthing in London said in a research note. He advises buying the stock, saying its valuation ‘ignores the true value of the international’.

Lukoil buys Turkey's Akpet for $500 mln

Russian oil major Lukoil agreed to buy Turkish fuel distributor Akpet for $500 million on Monday, securing 5% of Turkey's oil product retail market as it continues its downstream expansion. Lukoil, Russia's second-largest oil producer, plans to double its Turkish market share to 10% within a decade after acquiring eight oil product terminals with total capacity of 300,000 m³, company president Vagit Alekperov said.

Energy company AREVA T&D to invest $105 mln in Turkey

AREVA, one of the world's leading energy transmission and distribution companies, has decided to spend $105 million to expand their operations in Turkey by constructing a new factory that will create employment for an additional 600 people.

Speaking to Today's Zaman, Investment Support and Promotion Agency of Turkey President Alpaslan Korkmaz said AREVA has steered itself toward Turkey because his agency provides them with free land for their investments. Korkmaz noted that Turkey was competing with Eastern European countries to draw AREVA's money in, but that Turkey was winning this race with the government's offers of free land and the quality of its engineers. AREVA currently employs 1,500 workers in Turkey.

The company will produce energy transmission transformers spending USD 50mn initially. In the second phase, the company will invest a further USD 55mn, the daily Milliyet reports. Vice-chairman of AREVA, Ghislain Lescuyer, tells Milliyet that the production in new facilities will mainly meet local equipments demand however will also target neighboring markets such as Russia, Asia, and Ukraine. French AREVA has already expressed its intention to construct the first nuclear power plant in Turkey.

Iran, Turkey to hold South Pars gas field talks

Iran will hold talks with Turkey this month for the development of three phases of its South Pars gas field, Iranian publication Sarmayeh reported, citing an industry official. Iran plans “to cede the development of the phases 22 to 24 of the South Pars field to Turkey,” the Tehran-based newspaper said, citing Seifollah Jashnsaz, managing director of National Iranian Oil Co.

Turkish Petroleum Corporation eyes Mediterranean

The Turkish Petroleum Corporation (TPAO), which produces most of Turkey's crude oil output and operates more than 45 oilfields, recently announced that it will expand its exploration in the eastern Mediterranean Sea to include deepwater areas west of the island of Cyprus, reported Thaindian News, a news portal for Indians in Thailand.

Israel's largest petroleum refiner may invest in Turkey

Oil Refineries Ltd., Israel's biggest petroleum refiner, plans to make acquisitions in Turkey and elsewhere after its sale by the government last year opens up opportunities, Chief Executive Officer Yashar Ben Mordechai said. Oil Refineries is seeking a small refinery or a stake in a larger one, and is looking for purchases in the retail gasoline business in Cyprus, Italy or Turkey, Ben Mordechai said in an interview in Tel Aviv.

Turkey has world’s 7th largest potential in geothermal energy

Turkey’s Energy Minister said Turkey would look to develop further geothermal energy resources. Turkish Energy Minister Hilmi Guler said the government was looking to save 315 million euro between now and 2013 with an annual production of 4.4 billion kw/hr through geothermal power plants.

During a visit to Iceland, Guler said that in terms of geothermal energy potential, Turkey ranked 7th in the world and 1st in Europe with a potential of 31,500 MWs. However, currently it was was only producing a total of 30 MWs at three geothermal power plants. Guler said they wanted to increase this to a total of 550 MWs by 2013.

EU-Turkey agree on Arab gas pipeline cooperation

The EU, Turkey, Iraq and Mashreq countries (Egypt, Jordan, Lebanon and Syria) reached a consensus to connect Arabian natural gas pipeline to Turkey, Iraq and the EU through Nabucco and other pipelines at a commission meeting in Brussels. The consensus aims to develop regional cooperation in the natural gas sector through the Euro-Arab Mashreq gas market center and extending its participation to Iraq and Turkey said the statement.

The Arab Gas Pipeline currently runs from Egypt through Jordan to Syria and has a capacity of 10 billion cubic meters per year. The pipeline, which will be interconnected with Turkey and Iraq by 2009, will provide a new transport route for gas resources from the Mashreq region to the EU. It is expected that, in the future, the pipeline will be connected with the Nabucco project.

Japan's Hochu among possible bidders for Turkish nuclear plant

Japan's Hochu is among four foreign companies to have obtained tender documents for Turkey's first nuclear power plant, Aksam newspaper said. Other potential bidders include France's Vinci SA, the world's biggest construction company, Belgium's Suez-Tractabel SA and Canada's AECL, Aksam reported. The deadline for bidding is on Sept. 24.

Two more state-owned electricity grids for sale

The state-owned Meram and Aras electricity distribution corporations are to be privatized, with its shares will be sold as a block, Turkey's Privatization Administration (OIB) announced yesterday in the Official Gazette.

The eventual buyer must provide $10 million as collateral to purchase the Meram Electricity Distribution Corp. shares. The corporation serves Kirsehir, Nevsehir, Nigde, Aksaray, Konya and Karaman. For the shares of the Aras Electricity Distribution Corp., which serves Erzurum, Agri, Ardahan, Bayburt, Erzincan, Igdir and Kars, the figure is $5 million.

Potential buyers will have to apply to the OIB by 4 p.m. on May 26 and present their offers by July 15. Related materials and documents listing the contract terms for the corporations' sales will be available from May 5 at the OIB.

Energy Minister says Turkey controls world boron market

Turkey's energy minister said on Wednesday that Turkey currently controlled the world's boron market. Attending a meeting on "The Future of Boron and Turkey" at Ankara's Cankaya University, Turkish Energy and Natural Resources Minister Hilmi Guler said remarkable studies were being carried out and more than 2,000 products were produced in Turkey using the "boron" chemical.

"We can say that Turkey is now controlling the world's boron market," Guler said. He also said Turkish experts carried out studies on "sodium-boron hydride" which was one of the most important hydrogen carriers of the future. Guler said Turkey produced cement using boron chemicals as well. He said 4,000 tons of cement was produced using such material currently and the product would be commercialized soon.

Boron, a semi-metallic element, exhibits some properties of metal as well as of non-metal. Turkey has almost 72 percent of the world's boron potential and boron reserves. The importance of boron --widely used in industries ranging from detergent industry to glass industry-- will increase as hydrogen fuelled motor vehicles are introduced.

Verbund joint venture backs Turkey gas plant plan

Reuters - Austria's top utility Verbund said on Thursday its Turkish Enerjisa joint venture had been given the green light to build a 920 megawatt gas-fired power plant in northwest Turkey. Verbund said in a statement the 500 million euro ($781 million) project, which will be built in a joint venture with Turkey's Sabanci Holding should go online by autumn 2010.

Global Yatirim takes new partner for gas deal

Reuters - Turkey's Global Yatirim Holding says ABN Amro Infrastructure Capital Management has agreed to join its consortium to purchase Ankara's gas grid. ABN will take a 22.23 percent stake. Global continues talks for a new foreign strategic partner.

Favourable investment climate in energy sector

Hasan Koktas, President of Energy Market Regulatory Authority, has stated that they will assume more responsibility in order to remove the hesitations in the sector and added, "We will speed up private sector investments.”

Turkey sets deadline for bids to build first nuclear power station

Reuters - Turkey has set a deadline of Sept. 24 for bids in a tender to build the country's first nuclear power station, a statement in the Official Gazette said on Monday. The power station will be built at Akkuyu near Mersin on the country's Mediterranean coast, the Official Gazette said. The plant will have a capacity of 4,000 megawatts, plus or minus 25 percent.

The project is one of the several ways in which the government plans to boost energy production to keep pace with rapidly growing demand against a background of strong economic growth. Turkey has conducted legal work on building three nuclear power plants with a total capacity of 5,000 MW.

Forbes: "Turkey invites bids to build nuclear plant"

Forbes - Turkey’s energy minister on Monday invited bids for the construction of the country’s first nuclear power plant, which is to be built on the Mediterranean coast despite strong opposition from environmentalists.

TETAS, the state-run company that will eventually market the plant’s power production, said it will accept bids for the construction and operation of a 4,000-megawatt plant, at Akkuyu, in the southern province of Mersin, until Sept 24, Anatolia Agency reported.