Latest news with #IstanbulNaturalResourcesSummit
Qatar Tribune
03-05-2025
- Business
- Qatar Tribune
Global energy leaders convene in Istanbul for strategic natural resources summit
Agencies Istanbul hosted a major natural resources summit on Friday, which brought together senior energy and mining officials from around the world and witnessed signing of several strategic agreements. Orgnized by Türkiye's leading media group and Daily Sabah's parent company, Turkuvaz Media, the Istanbul Natural Resources Summit (INRES 2025) focused on international cooperation in critical minerals, hydrocarbons, and long-term resource security amid the global energy transition. Over the past decade, Türkiye has significantly diversified its energy resources, mainly aimed at reducing its heavy external dependence while helping it develop its domestic capabilities. The establishment of a deep-sea drilling fleet in 2017 has positioned Türkiye as a rising player in hydrocarbon exploration and energy diplomacy, with partnerships now extending from Azerbaijan and Somalia to Hungary, Niger, Iraq, Morocco and the United States. INRES 2025, held under the auspices of Energy and Natural Resources Ministry, serves as a forum for forging new energy alliances. Türkiye has already signed gas export agreements with several European countries, including Bulgaria, Hungary, Romania and Moldova, reinforcing its role as a critical supplier to the continent. A prior agreement with Romania, enabling the daily delivery of up to 4 million cubic meters of gas, expired in March 2025. Earlier this week, Turkish Petroleum Corporation (TPAO) signed an agreement with Hungary's MOL Group for oil and gas exploration in two Hungarian regions, signaling deeper bilateral cooperation in upstream energy and deputy ministers from at least 14 countries attending the INRES 2025 represented a wide geographical spectrum. Among the delegations were Libya's Minister of Industry and Minerals Ahmed Abu-Heisa, Niger's Minister of Mines Ousmane Abarchi, Somalia's Minister of Petroleum and Mineral Resources Dahir Shire Mohamed, Saudi Arabia's Deputy Minister of Industry and Mineral Resources Khalid Al-Mudaifer, Hungary's Deputy Minister of Foreign Affairs and Trade Boglarka Illes, Iraq's Deputy Prime Minister and Minister of Oil Hayan Abdul Ghani Alsawad. Also attending were Azerbaijan's Energy Minister Parviz Shahbazov, Bulgaria's Energy Minister Zhecho Stankov, Moldova's Energy Minister Dorin Junghietu, Romania's Energy Minister Sebastian Burduja and Syria's Energy Minister Mohammed al-Bashir. The summit's first session, titled 'Critical Minerals for the Energy Transition,' was moderated by Taha Meli Arvas, CEO of Turkish energy bourse Energy Exchange Istanbul (EPIAŞ). Panelists included Yalçın Aydın, CEO of Eti Maden mining company, Mehmet Yılmaz, chair of the Turkish Mining Association, Hasan Yücel, chairperson of TÜMAD Mining, Peter Handley, strategic adviser at HCSS, and Duygu Yılmaz, group leader and researcher at Norway's Institute for Energy Technology. Discussions centered on global demand forecasts, critical minerals, emerging technologies and supply chain emphasized Türkiye's openness to partnerships in critical minerals, including rare earth element investments in Africa. 'We are open to all kinds of cooperation. We are open to collaboration with both local and foreign companies,' he noted. Aydın also highlighted that investment opportunities related to rare earth elements in Africa are being evaluated. He recalled that Eti Maden is working to diversify its product range beyond boron and has established a pilot plant for the production of rare earth elements. 'Eti Maden is the world's boron leader. We have strong capabilities and highly competent people within our organization. We are not just selling boron products – we also have rare earth element reserves in Türkiye,' Aydın said. 'We are looking at investment opportunities globally, but especially in Africa.' Türkiye holds the world's largest boron reserves, and Eti Maden is the leading boron products manufacturer. In 2022, the company established a pilot plant in the rare earth element reserve area. According to its 2023 activity report, the company generated $1 billion in revenue from 1.8 million tons of boron products, securing a 60% share of the global market. Handley noted that Türkiye's operational capabilities make it an attractive partner for mutually beneficial ventures. 'If Türkiye wants to expand its footprint, it will find many countries to do business with. There are many countries that would like to work with Türkiye within a mutual gain model,' he noted. Yücel emphasized that Türkiye has significant potential regarding critical minerals and added that demand from Gulf nations for Turkish mineral resources has been steadily increasing. In the second session, moderated by Energy and Natural Resources Minister Alparslan Bayraktar, the topic shifted to 'Mining in the Energy Transition: A Ministerial Dialogue on Resource Security.' Participants included ministers from Libya, Niger, Somalia, Saudi Arabia and Hungary. Minister Abu-Heisa spoke of Libya's rich iron ore reserves and its commitment to technological collaboration. He also highlighted Libya's ambitious strategic plans and emphasized its massive mining potential. Minister Mohamed affirmed Somalia's plans to begin domestic resource extraction, emphasizing the government's long-term vision for natural resource development. 'Our government has a long-term plan regarding natural resources. Somalia will begin extracting its own natural resources as soon as possible,' he noted. On the sidelines of the INRES 2025, Bayraktar convened a series of bilateral meetings with his counterparts from Iraq, Moldova, Niger, Syria and Libya, deepening energy diplomacy across multiple regions.
Libya Observer
03-05-2025
- Business
- Libya Observer
Libya and Turkey review economic cooperation prospects
The Minister of Industry and Minerals, Ahmed Abu Haisa, discussed Thursday with Turkish Minister of Energy and Natural Resources Alparslan Bayraktar prospects for cooperation in the fields of energy, industry, and mining. This came during a meeting held on the sidelines of his participation in the Istanbul Natural Resources Summit, attended by a number of officials and specialists from both sides. The two sides emphasized the importance of strengthening the strategic partnership between the two countries and activating the signed agreements and memoranda of understanding, which will contribute to supporting sustainable development tracks. Economy Tagged: Minister of Industry and Minerals Turkey
Arab News
03-05-2025
- Business
- Arab News
Saudi-Turkish ministers discuss enhancing cooperation in mining sector, joint investment
ISTANBUL: Saudi Deputy Minister for Industry and Mineral Resources Khalid Al-Mudaifer met Alparslan Bayraktar, Turkiye's minister of energy and natural resources, and Mehmet Yilmaz, president of the Turkish Miners' Association, in Istanbul. During the meeting, the two sides discussed ways to enhance cooperation in the mining sector as well as joint investment opportunities in the field of minerals, the Saudi Industry Ministry wrote in a post on X. The meeting was held at the Istanbul Natural Resources Summit, which brought together experts, leaders and policymakers to explore 'evolving global and regional dynamics in energy and resource security.'
Iraqi News
03-05-2025
- Business
- Iraqi News
Iraq and Azerbaijan discuss cooperation in energy project development
INA - ISTANBUL Deputy PM for Energy Affairs and Minister of Oil Hayan Abdul-Ghani met Azerbaijani Energy Minister Parviz Shahbazov on Saturday, affirming cooperation in energy project development. The Iraqi News Agency — INA reporter said, "Abdul-Ghani met Shahbazov on the sidelines of his participation in the Istanbul Natural Resources Summit." He noted that "the meeting witnessed an emphasis on paving the way for the historical relations between the two countries to develop cooperation in the energy sector." The two sides exchanged views on the current status of the oil market settlement within the OPEC+ formula. They discussed "the importance of signing a memorandum of understanding on cooperation in the oil and gas sectors between the Azerbaijani and Iraqi ministries of energy."
The Star
02-05-2025
- Business
- The Star
Türkiye sets oil production record, eyes growth in natural gas sector: president
ISTANBUL, May 2 (Xinhua) -- Turkish President Recep Tayyip Erdogan said on Friday that the country's oil production surpassed 135,000 barrels per day (bpd) by the end of March, and that more efforts are being made to build Türkiye into a global leader in natural gas exploration. Speaking at the Istanbul Natural Resources Summit, Erdogan pointed out that this year's oil production has reached a record high, noting that Türkiye's oil production in 2024 was approximately 126,000 bpd. Erdogan attributed the rise in oil production primarily to the substantial output from the Gabar region of southern Sirnak province. Oil was discovered in Gabar in 2021 following drilling operations by the Turkish Petroleum Corporation. To date, over 26 million barrels of oil have been produced in the region, with a total value approaching 2 billion U.S. dollars, Erdogan revealed. He added that the country also targets growth in the natural gas sector, vowing to transform Türkiye into a global player in natural gas exploration. The president said that Türkiye's first natural gas floating production platform will begin operations next year in the Sakarya gas field. "In the Sakarya gas field, we aim for a daily production of approximately 20 million cubic meters from Phase 1 and Phase 2 by 2026," he stated, setting a goal of 40 million cubic meters per day by 2028. Discovered in 2020, the Sakarya gas field, located in the Black Sea off the coast of the northern Zonguldak province, is one of Türkiye's most significant natural gas discoveries in recent years.
