Turkey is advancing its energy strategy in the Balkans with new agreements aimed at deepening its influence in the region. According to Greek and Bulgarian media reports, Turkey recently signed memoranda of energy cooperation with Bulgaria and Romania during the Natural Resources Summit held in Istanbul. These agreements are part of Turkey’s broader plan to position itself as a key energy hub in Central and Southeastern Europe, challenging Greece's position in the region’s energy market.

The memorandum between Bulgaria and Turkey sets the stage for closer collaboration, particularly in the electricity sector. It focuses on joint efforts in renewable energy, energy storage, and carbon capture and storage (CCS). Furthermore, both countries have expressed mutual interest in hydrogen technologies and next-generation fuels. A significant goal outlined in the agreement is the development of new electricity interconnection projects to enhance transmission capacity between Bulgaria and Turkey. These initiatives also aim to attract private investments for energy infrastructure projects, reflecting the broader goal of strengthening bilateral energy ties.

In addition to its partnership with Bulgaria, Turkey has signed its first energy cooperation agreement with Romania. This memorandum covers various energy sectors, including natural gas, renewable energy, and regional energy infrastructure. Notably, Turkey has extended its energy collaboration with Romania through a contract with the state-owned Botas company for the supply of up to 4 million cubic meters of natural gas per day. The agreement, signed in October 2023, is expected to be renewed, and the two countries have also been working on the exploration of natural gas reserves in the Black Sea. The Sakarya field, in particular, holds significant potential, with estimated reserves of 710 billion cubic meters of natural gas. The Neptune Deep field, which began drilling recently, is projected to begin production in 2027, positioning Romania as a major gas producer in Europe.

Moreover, Turkey has shown strong interest in Romania’s gas infrastructure projects, such as the Tuzla-Podisor pipeline, which is being constructed by the Turkish company Kalyon. This pipeline is designed to transport gas from the Neptune Deep field to major gas pipelines across the Balkans. Turkish investors are also eyeing large-scale renewable energy projects in Romania, where Greek companies have already established a prominent presence.