The resource amount allocated from the central government budget for Türkiye's energy sector this year has reached 75.6 billion liras, an increase of 70% compared to last year.
This year, more than 1 trillion lira has been allocated for 12,041 projects, with the energy sector accounting for 7.5% of the budget, according to the 2024 Investment Program released late Monday.
This year, 6.6 billion liras will be invested in new energy sector projects.
The budget allocated for ongoing projects totals 68.4 billion liras and 536.6 million liras will be used to finance the preparatory stage of projects.
Of the allocated funding for the energy sector, 65.4 billion lira has been allocated for public economic enterprises.
Türkiye's Petroleum Pipeline Corporation (BOTAS) received the majority of the funding at 29 billion liras.
The largest share of the budget allocated to BOTAS, at 8.4 billion liras, will be used for the Tuz Golu (Salt Lake) Natural Gas Storage Facility, located in the Central Anatolian province of Aksaray. The project, which is due for completion in 2027, aims to increase storage and production capacity.
A total of 7.8 billion liras has been awarded to infrastructure projects to deliver natural gas to 26 provinces, and a further 6.5 billion liras will be used for the modernization and rehabilitation of pipelines and associated facilities in 81 provinces.
With 28 billion lira invested in the energy sector, Turkish Electricity Transmission Corporation (TEIAS) ranks second, ahead of Electricity Generation Company (EUAS) with 8 billion lira.
This year, resources have been allocated for 163 projects in the energy sector. TEİAS takes the lead with 63 projects, followed by EUAS with 30 projects and BOTAS with 20 projects.
To lessen reliance on foreign sources, improvements in the country’s energy sector are targeted through a number of programs, one of which is the exploration and development of oil and natural gas resources.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr