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« Platinum and Palladium: A Fundamental Shift | Main | Rick Rule: From Uranium Bear to Bull -- Why Low Prices Cannot Last »
Tuesday
May212013

Turkey invests big in nuclear power

While other EU countries are increasingly investing in renewables, Turkey is planning three new nuclear power stations. The country's aim is to turn from being a net importer to a net exporter of energy.

Turkey is geographically close to over 70 percent of the worldwide oil and gas reserves. Every year, thousands of oil tankers bring up to 150 million tons of oil from the Black Sea through the Bosporus and the Dardanelles to the Mediterranean and on towards Western Europe. Turkey also covers most of its energy demand with imports.

But now Turkish Energy Minister Taner Yildiz has declared that the country wants to "develop into an energy exporter." By 2023, 30 percent of the national electricity demand is to come from local renewable energy sources. And Ankara is investing in nuclear power. The ambitious plan is to build three new nuclear power stations in Turkey by 2023.

Energy demand growing rapidly

Turkey's energy consumption has almost doubled in the past decade - from 130 billion kilowatt hours to 240 billion, 

To read this article in full please click here.

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