The Central Government’s allocated budget for energy sector investments this year has seen a remarkable 70% increase, reaching 75.6 billion Turkish Liras, as reported by the 2024 Investment Program compiled by AA news agency.
According to the data gathered by AA correspondent, a total of 12,041 projects, including 3,799 main projects, will be funded with over 1 trillion Turkish Liras by various public institutions this year. The energy sector’s share in investment allocations stands at 7.5%.
For the energy sector, a budget of 6.69 billion Turkish Liras has been designated for new projects, 68.46 billion Turkish Liras for ongoing projects, and 536.67 million Turkish Liras for feasibility studies. Consequently, the total budget allocated by the public for energy sector investments in 2024 amounts to 75.69 billion Turkish Liras. Out of this allocation, 65.44 billion Turkish Liras will be dedicated to investments by state economic enterprises.
The primary recipient of the highest budget for energy investments this year is the Petroleum Pipeline Corporation (BOTAŞ), with 29 billion Turkish Liras. The major portion, 8.42 billion Turkish Liras, will be utilized for the Tuz Gölü Natural Gas Storage Project, aiming to increase storage and production capacities, with an expected completion in 2027. The second-largest project, with an allocation of 7.87 billion Turkish Liras, focuses on extending natural gas distribution to districts in 26 provinces.
In terms of investment volume, Turkey Electricity Transmission Corporation (TEİAŞ) follows with 28 billion Turkish Liras, and the Electricity Generation Corporation (EÜAŞ) ranks third with an allocation of 8 billion Turkish Liras.
A total of 163 projects have been outlined for the energy sector in 2024. Among these, TEİAŞ leads with 63 projects, followed by EÜAŞ with 30 projects and BOTAŞ with 20 projects.
The 2024 Investment Program anticipates significant developments in project-based activities within the sector, particularly in initiatives aimed at reducing the country’s dependence on external energy resources and exploring and developing domestic oil and natural gas sources.
Allocation of Energy Sector Investments in 2024 by Institutions:
| Institutions | Number of Projects | 2024 Investment (Turkish Lira) |
|---|---|---|
| BOTAŞ | 20 | 29,000,000,000 |
| TEİAŞ | 63 | 28,000,000,000 |
| EÜAŞ | 30 | 8,000,000,000 |
| General Directorate of Highways | 3 | 4,325,000,000 |
| Ministry of Environment | 6 | 2,985,000,000 |
| State Hydraulic Works | 12 | 2,360,000,000 |
| TENMAK | 5 | 447,000,000 |
| TEDAŞ | 6 | 215,000,000 |
| Turkish State Railways (TCDD) | 1 | 150,000,000 |
| Ministry of Energy and Natural Resources | 6 | 95,148,000 |
| TÜRASAŞ | 1 | 75,000,000 |
| KOP Regional Development Authority | 1 | 27,000,000 |
| ADÜAŞ | 1 | 8,000,000 |
| GAP Regional Development Authority | 1 | 5,000,000 |
| Gaziantep Metropolitan Municipality | 2 | – |
| İller Bankası AŞ | 4 | – |
| Konya Metropolitan Municipality | 1 | – |
| TOTAL | 163 | 75,692,148,000 |
source: aa.com.tr / prepared by Melisa Beğiç