Are electricity and natural gas prices going to increase? Minister Bayraktar announced

Minister Bayraktar made a statement on a television channel. Minister of Energy and Natural Resources Alparslan Bayraktar stated that natural gas production in the Black Sea will be doubled with the Osman Gazi Floating Production Platform and reach 20 million cubic meters per day, and that the daily production is aimed to increase to 45 million cubic meters as of 2028 with the commissioning of the second platform. Bayraktar also made evaluations about oil production in Gabar and Adıyaman, new drilling works, Akkuyu Nuclear Power Plant and energy supports.

"WE ARE ACHIEVING A FIRST IN TURKISH OIL AND NATURAL GAS PRODUCTION"

Minister Bayraktar underlines that the Osman Gazi Ship will break new ground in production and said, "We are breaking new ground in Turkish oil and natural gas production. In the previous project, we carried out processing activities on land by bringing the gas to land in Filyos. Now, we will do the processing on site, on the sea. There are 21 separate modules on Osman Gazi. In a sense, you can think of it as a natural gas processing and production facility, factory. The platform is approximately 3 football fields long, 56 meters wide and burns. It is approximately the height of a 40-storey skyscraper above the sea. We will process the gas in this facility. Then, we will pump it from the sea floor to Filyos, which is 170 kilometers away, and from there we will bring this gas to our homes and workplaces. In other words, this facility will double the production to 20 million cubic meters, starting from 2027. "We are currently using our own natural gas in 4 million households, and the number of households will increase to 8 million. The facility will produce and pump this natural gas onto land for 20 years," he said.

"STARTING FROM 2028, WE WILL BE USING OUR OWN GAS IN 3 OUT OF 4 HOUSEHOLDS WITH 45 MILLION CUBIC METERS"

Giving the good news of the Second Floating Production Platform, Bayraktar said, "Another brother will come to Osman Gazi. Its production is currently continuing. It will move to Türkiye around December 2027 and will be in Türkiye in the first quarter of 2028. We will produce an additional 25 million cubic meters with it. Therefore, starting from 2028, we will be using our own gas in 3 out of 4 households with 45 million cubic meters."

On the other hand, Bayraktar reported that approximately 7.3 billion cubic meters of natural gas has been produced in the Black Sea in Phase-1, starting from 2023.

"WE ARE PLANNING A DRILLING THAT CAN REACH 6 THOUSAND METERS FROM THE WATER SURFACE"

Speaking about the drilling in the Akçabeyli well, Minister Bayraktar said, "Currently, our fifth ship is drilling the Akçabeyli well in the Black Sea. Akçabeyli is in the Western Black Sea. This time, we are drilling a well with oil evidence. We are planning to drill a much deeper drilling in Akçabeyli. We are planning a drilling that can reach 6 thousand meters from the water surface. We will have new drillings in the Black Sea."

"WE ARE MAKING NEW DISCOVERIES THAT CAN BRING IT TO 15 THOUSAND BARRELS A DAY"

Emphasizing that one of the important events this year was Adıyaman, Bayraktar said, "In Adıyaman, where production is considered to be below 10 thousand barrels, we are now making new discoveries that can increase the current production by approximately 50 percent to 15 thousand barrels per day."

"WE SEE A POTENTIAL THAT CAN TAKE GABAR OVER 100 THOUSAND BARRELS"

Minister Bayraktar made the following statements in his statement:

"We have now reached 84 thousand barrels of daily production in Gabar. We are trying to produce and increase the existing reserves in Gabar. We see a potential there that can take Gabar to over 100 thousand barrels. We are currently about to discover important reserves in the west of Gabar. We do not announce the exact reserve figures without our friends confirming them, but right now things are moving in a very positive direction. I hope we will give new good news to our nation from Gabar."

"WE THINK THERE ARE 3 BILLION BARREL RESERVES IN KIRKUK"

Speaking about Kirkuk oil, Bayraktar said, "Turkish Petroleum has become a partner in the Kirkuk fields. We will start to receive the benefit and share of this partnership as of 2027. The Kirkuk field is one of the most important fields in the world in terms of oil. We think and believe that there are 3 billion barrels of reserves there. Turkey has become a partner in 15 percent of this."

"WE WILL BRING Türkiye'S OIL TO THE TARGET OF 1 MILLION BARREL"

Bayraktar stated that Türkiye will be seen as more active in Iraq and that it will be more active in oil and natural gas, and said, "We bought two fields in Libya; one at sea, the other on land. We are starting to work there. With these, mergers and acquisitions, and share purchases, we will take Turkish Petroleum to the target of 1 million barrels."

Expressing that a second drilling may be needed in Somalia, Bayraktar announced that a seismic ship will go to Pakistan very soon and seismic work will begin there.

Minister Bayraktar said that we are entering winter with the tanks full at the moment, and reminded that the natural gas tanks were 100 percent full as of July this year, and emphasized that all kinds of precautions were taken.

"WE ARE IN A PROCESS WHERE 1,000 90 SEPARATE TESTS ARE CONDUCTED"

Stating that the first reactor in Akkuyu has come to an end, Bayraktar said, "Hundreds of tests are currently being carried out. We are in a process where 1,090 separate tests are carried out. There has never been a fuel loading before, this will be the first time in Türkiye. Our goal is to load fuel before the end of this year and start the Akkuyu Nuclear Power Plant. When all the reactors come into operation, we will produce approximately 10 percent of the need from here."

Bayraktar stated that the negotiation process with South Korea, Canada, China and Russia continues for Sinop and Thrace.

"CURRENT ELECTRIFICATION OF TRANSPORTATION IN Türkiye IS 5 PER THOUSAND"

Underlining that there will be statements at the launch at the beginning of November, Bayraktar said, "Electrification is at its center. We aim to electrify everything. Currently, electrification in transportation in Türkiye is 5 per thousand. Electric vehicles are increasing, we set a target of 'We should see approximately 17 to 20 million electric and hybrid vehicles on our roads in 2040'."

"WE PROVIDE THE PRICE OF NATURAL GAS AS 220 DOLLARS, WHICH IS ONE THOUSAND DOLLARS IN EUROPE"

Minister Bayraktar continued his words as follows:

"As of 2025, we have excluded our citizens who consume more than a certain amount and consume a lot from the support program. In electricity, this decreased to 5 thousand kilowatt-hours in 2025 and to 4 thousand kilowatt-hours in 2026. Now we will set a new limit for 2027. This will perhaps fall below 4 thousand kilowatt-hours. We did this in natural gas in April 2026. Take Ankara for example; in Ankara in October The average household consumption is 100 cubic meters. If you consume 175 cubic meters, that is, 75 percent more than the average, we exclude you from the support group. This is our practice. Today, the price of natural gas we use in our homes is 220 dollars per thousand cubic meters. Today, we give the price of natural gas as 220 dollars per thousand dollars. In fact, our subsidy support figure is much higher than 50 percent with today's natural gas prices.

At the same time, Bayraktar stated that there is no price change planned at the moment, but the developments and budget situation are being followed. In October and November, he announced that there was no regulation plan.