Erdogan Says Energy Security Is Key to Sovereignty, National Security
Speaking during a renewable energy investment event in Ankara, Erdogan announced that Türkiye had commissioned energy projects worth $5 billion, adding a total generating capacity of 6,818 megawatts.
He highlighted Türkiye’s growing strategic role in the regional energy landscape, saying the country is steadily strengthening its position as an energy hub.
Referring to the Russia-Ukraine conflict and disruptions in global energy routes, Erdogan said the effective closure of the Strait of Hormuz underscored the vulnerability of international energy markets.
According to Erdogan, the shutdown of the key maritime passage triggered what he described as the largest interruption of oil supplies in history, affecting around a quarter of global oil flows and roughly 20% of worldwide liquefied natural gas trade.
He recalled that crude oil prices, previously trading near $60 per barrel, surged to nearly twice that level following the disruption.
Erdogan added that the consequences extended far beyond oil markets, noting that soaring costs have also affected LNG and a wide range of petroleum-based products, including fertilizers and plastics.
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