Istanbul hosted a major natural resources summit on Friday, which brought together senior energy and mining officials from around the world and witnessed signing of several strategic agreements.
Orgnized by Türkiye's leading media group and Daily Sabah's parent company, Turkuvaz Media, the Istanbul Natural Resources Summit (INRES 2025) focused on international cooperation in critical minerals, hydrocarbons, and long-term resource security amid the global energy transition.
Over the past decade, Türkiye has significantly diversified its energy resources, mainly aimed at reducing its heavy external dependence while helping it develop its domestic capabilities.
The establishment of a deep-sea drilling fleet in 2017 has positioned Türkiye as a rising player in hydrocarbon exploration and energy diplomacy, with partnerships now extending from Azerbaijan and Somalia to Hungary, Niger, Iraq, Morocco and the United States.
INRES 2025, held under the auspices of Energy and Natural Resources Ministry, serves as a forum for forging new energy alliances.
Türkiye has already signed gas export agreements with several European countries, including Bulgaria, Hungary, Romania and Moldova, reinforcing its role as a critical supplier to the continent.
A prior agreement with Romania, enabling the daily delivery of up to 4 million cubic meters of gas, expired in March 2025.
Earlier this week, Turkish Petroleum Corporation (TPAO) signed an agreement with Hungary’s MOL Group for oil and gas exploration in two Hungarian regions, signaling deeper bilateral cooperation in upstream energy development.
Ministers and deputy ministers from at least 14 countries attending the INRES 2025 represented a wide geographical spectrum.
Among the delegations were Libya’s Minister of Industry and Minerals Ahmed Abu-Heisa, Niger’s Minister of Mines Ousmane Abarchi, Somalia’s Minister of Petroleum and Mineral Resources Dahir Shire Mohamed, Saudi Arabia’s Deputy Minister of Industry and Mineral Resources Khalid Al-Mudaifer, Hungary’s Deputy Minister of Foreign Affairs and Trade Boglarka Illes, Iraq’s Deputy Prime Minister and Minister of Oil Hayan Abdul Ghani Alsawad.
Also attending were Azerbaijan's Energy Minister Parviz Shahbazov, Bulgaria's Energy Minister Zhecho Stankov, Moldova's Energy Minister Dorin Junghietu, Romania's Energy Minister Sebastian Burduja and Syria's Energy Minister Mohammed al-Bashir.
The summit's first session, titled "Critical Minerals for the Energy Transition," was moderated by Taha Meli Arvas, CEO of Turkish energy bourse Energy Exchange Istanbul (EPIAŞ).
Panelists included Yalçın Aydın, CEO of Eti Maden mining company, Mehmet Yılmaz, chair of the Turkish Mining Association, Hasan Yücel, chairperson of TÜMAD Mining, Peter Handley, strategic adviser at HCSS, and Duygu Yılmaz, group leader and researcher at Norway’s Institute for Energy Technology.
Discussions centered on global demand forecasts, critical minerals, emerging technologies and supply chain dynamics.
Aydın emphasized Türkiye's openness to partnerships in critical minerals, including rare earth element investments in Africa.
"We are open to all kinds of cooperation. We are open to collaboration with both local and foreign companies," he noted. Aydın also highlighted that investment opportunities related to rare earth elements in Africa are being evaluated.
He recalled that Eti Maden is working to diversify its product range beyond boron and has established a pilot plant for the production of rare earth elements.
"Eti Maden is the world's boron leader. We have strong capabilities and highly competent people within our organization. We are not just selling boron products – we also have rare earth element reserves in Türkiye," Aydın said.
"We are looking at investment opportunities globally, but especially in Africa."
Türkiye holds the world's largest boron reserves, and Eti Maden is the leading boron products manufacturer.
In 2022, the company established a pilot plant in the rare earth element reserve area. According to its 2023 activity report, the company generated $1 billion in revenue from 1.8 million tons of boron products, securing a 60% share of the global market.
Handley noted that Türkiye's operational capabilities make it an attractive partner for mutually beneficial ventures.
"If Türkiye wants to expand its footprint, it will find many countries to do business with. There are many countries that would like to work with Türkiye within a mutual gain model," he noted.
Yücel emphasized that Türkiye has significant potential regarding critical minerals and added that demand from Gulf nations for Turkish mineral resources has been steadily increasing.
In the second session, moderated by Energy and Natural Resources Minister Alparslan Bayraktar, the topic shifted to "Mining in the Energy Transition: A Ministerial Dialogue on Resource Security." Participants included ministers from Libya, Niger, Somalia, Saudi Arabia and Hungary.
Minister Abu-Heisa spoke of Libya's rich iron ore reserves and its commitment to technological collaboration. He also highlighted Libya's ambitious strategic plans and emphasized its massive mining potential.
Minister Mohamed affirmed Somalia's plans to begin domestic resource extraction, emphasizing the government's long-term vision for natural resource development. "Our government has a long-term plan regarding natural resources. Somalia will begin extracting its own natural resources as soon as possible," he noted.
On the sidelines of the INRES 2025, Bayraktar convened a series of bilateral meetings with his counterparts from Iraq, Moldova, Niger, Syria and Libya, deepening energy diplomacy across multiple regions.
In a statement on the social media platform X, Bayraktar said discussions with Iraq's Alsawad focused on enhancing bilateral cooperation in oil and gas production, transmission, and trade.
"We aim to strengthen Türkiye-Iraq energy relations on the basis of mutual benefit and regional stability," he wrote.
Talks with Moldova's Junghietu addressed energy security, natural gas infrastructure, and renewable energy. Bayraktar said Türkiye sought to extend support for Moldova's energy transition through joint projects, smart grid technologies and knowledge exchange.
Bayraktar also met with Saudi Arabia's Al-Mudaifer to discuss opportunities for cooperation in mining and align strategic resource policies.
Following talks with his Bulgarian counterpart Stankov, Türkiye and Bulgaria signed a memorandum of understanding to expand cross-border electricity transmission and collaborate on energy efficiency, renewables, hydrogen and carbon capture technologies.
Bayraktar described the agreement as a step forward in securing mutual energy interests. The deal covers knowledge, experience and technology sharing in areas such as renewable energy, hydrogen and carbon capture.
"I hope this agreement, which will further advance our constructive cooperation based on mutual benefit with Bulgaria and contribute to energy supply security, will be beneficial," the minister said.
Bayraktar also met Niger's Abarchi to build on a 2023 memorandum of understanding. The two discussed new steps in technology transfer, investments and strategic cooperation. Bayraktar underscored Türkiye's intention to form sustainable, mutually beneficial partnerships across Africa.
"In line with the memorandum of understanding we signed last year in the mining sector, we have thoroughly examined our collaboration," said the minister.
"We prioritize developing sustainable and strategic partnerships in Africa that are based on mutual benefit. In this regard, we have once again expressed our determination to take new steps with Niger in joint projects, technology transfer and investment."
Discussions with Syria's al-Bashir explored potential cooperation on electricity and gas infrastructure as part of the war-torn reconstruction.
"We have discussed opportunities for technical support and collaboration in strengthening Syria's electricity and natural gas infrastructure as part of its post-war reconstruction process," said Bayraktar.
"As Türkiye, we have reaffirmed our readiness to engage in any constructive cooperation that will contribute to regional stability and help meet the fundamental energy needs of the Syrian people."
Bayraktar's meeting with Libya's Abu-Heisa focused on mining, industrial infrastructure and capacity building. He expressed Türkiye's readiness to assist in the sustainable development of Libya's natural resources and long-term economic recovery.
"We have expressed our readiness to contribute to the effective and sustainable utilization of Libya's underground resources and to move forward together in its development process," Bayraktar wrote.
Later sessions tackled "Opportunities and Challenges in Supply Security" and "Hydrocarbons: New Strategies."
Moderated again by Bayraktar, the third session featured ministers from Iraq, Azerbaijan, Bulgaria, Moldova, Romania and Syria.
The final session brought together industry leaders, including TPAO CEO Ahmet Türkoğlu, BOTAŞ Vice President Mithat Aydın, Subsea 7 CEO John Evans, Uniper Vice President Michael Hilmer, SOCAR Vice President Anar Mamadov, and Schlumberger’s Digital and Integration President Gökhan Yarim.
Moderated by Sohbet Karbuz, hydrocarbons and energy director at OME, the panel explored strategic shifts in hydrocarbon development.
Describing INRES 2025 as an international program that highlights Türkiye's expanding influence in global energy diplomacy, Bayraktar said: "At a program where approximately 14 countries will participate at the minister and deputy minister level, Türkiye's significant role in energy diplomacy will clearly be demonstrated."
Topics discussed throughout the summit include energy and resource security, critical minerals and hydrocarbons within the scope of energy transition, and financing models for the energy sector and investment strategies in a rapidly changing geopolitical landscape.
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