Turkey's state energy expenditure up 15.3 pct in 2019
17:05, 18/02/2019, MondayU: Update: 17:07, 18/02/2019, Monday
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Flare lighting ceremony of Bati Celtik-1 new natural gas well in Istanbul
Under presidential decree, Turkey's energy and mining sectors will be allocated 9.81 billion Turkish liras this year
Turkey approved a 15.3 percent annual increase in public expenditure in its energy and mining sectors in 2019, the country's Official Gazette announced Monday.
Under the presidential decree for the government's 2019 investment program, the country will invest 9.81 billion Turkish liras for energy and mining projects this year, compared to 8.51 billion liras in 2018.
The country will allocate nearly 7.71 billion liras for 104 projects in the energy sector, and plans to budget approx. 2.10 billion liras for 49 projects in the mining sector.
Turkish Petroleum Pipeline Corporation (BOTAS) will have the lion's share of public investment in the energy sector. The country will allocate nearly 3.70 billion liras for the corporation's 15 ongoing and planned projects for 2019.
BOTAS will be followed by Turkish Electrical Transmission Company (TEIAS), which with its 31 projects this year will receive 1.99 billion liras.
Turkey’s State Hydraulic Works follows TEIAS as the third largest recipient will receive 1.12 billion liras for its 11 projects.
In the mining sector, the biggest share of public investment will be given to Turkish Petroleum with 1.26 billion liras for the company's 13 ongoing and planned projects in 2019.
The Mineral Research and Exploration General Directorate (MTA) will obtain 315.49 million liras for its 6 projects while Turkey's Electricity Generation Company (EUAS) will be allocated 168.26 million liras for its eight projects.
(US$1 = 5.30 Turkish Liras)