The dual initiatives underscore Ankara's ambition to transform itself from an energy consumer into a major regional supplier and strategic player in global energy markets.
Bayraktar revealed that Turkey is in active negotiations with major American oil companies, including Chevron and Exxon, to acquire stakes in US gas production and exploration projects. "To hedge our position on gas supply and to build the entire value chain, we are considering investing upstream in the US market," he said, adding that deals involving Turkish Petroleum could be announced within the next month.
Turkey has already secured agreements to receive 1,500 liquefied natural gas cargoes from the United States over the next 10 to 15 years. The country is also cooperating with Continental Resources on unconventional production projects, including hydraulic fracturing operations.
The minister emphasized Turkey's goal of becoming a key gas supplier for southern Europe, including war-torn Ukraine. Following Ukrainian President Volodymyr Zelenskyy's visit to Turkey last month, Ankara has been exploring ways to help supply gas to Kyiv, with Turkish Petroleum Pipeline Corporation and Ukraine's Naftogaz working together on potential solutions.
"We have a regasification capacity of 32 billion cubic meters per year, and we may have an excess of 10 to 15 BCM available next year," Bayraktar noted, highlighting Turkey's superior infrastructure compared to regional competitors like Greece. The country plans to expand its floating storage regasification unit capacity by adding two more units to its existing three.
Meanwhile, Turkey is preparing to begin drilling operations off Somalia's coast in 2026, following completion of extensive seismic studies. The Turkish research vessel Oruc Reis, escorted by naval frigates for nearly ten months due to security concerns, conducted 3D seismic surveys across three zones covering 15,000 square kilometers allocated to Turkish Petroleum.
"We carried out seismic operations this year, and most likely 2026 will be a drilling year for us in Somalia's offshore region," Bayraktar confirmed, noting that official announcements could come in January.
The Somali project presents significant challenges, including deep-water drilling at approximately 3,000 meters and substantial infrastructure deficits onshore. According to US government reports, Somalia may hold at least 30 billion barrels of oil and gas reserves, though developing these resources would require billions of dollars in investment over several years.
Turkey's energy ventures in Somalia build upon more than a decade of strategic investment in the Horn of Africa nation, including the establishment of the world's largest Turkish embassy in Mogadishu, over $1 billion in humanitarian aid, and a major military base that has trained roughly one-third of Somalia's armed forces.
These developments signal Turkey's determination to secure its energy future while positioning itself as an indispensable hub connecting global energy supplies with European markets.