Turkey will face the need to import up to 80 percent of its energy resources by the year 2020, according to Turkey’s Energy and Natural Resource Minister Zeki Cakan. The minister noted that approximately four billion dollars is needed to establish a new energy network in the country, Turkiye reported.
Turkey’s strategic location makes it a natural energy link between major oil producing areas in the Middle East and consumer markets in Europe. Turkey’s energy consumption is growing much faster than its production, making it a rapidly growing energy importer. The country is currently experiencing significant energy shortfalls, which will necessitate billions of dollars worth of investments in coming years. — (menareport.com)
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