Azerbaijan, Baku, Dec. 2 / Trend A.Akhundov /
Investments of $120 billion are required to meet Turkey's growing energy needs. Head of the Turkish Union of Chambers and Commodity Exchanges' Energy Council Mahmut Yilmaz made the statement during a symposium on clean energy in Bursa, the Cihan news agency reported.
According to Yilmaz, Turkey's energy consumption is growing rapidly and is met only at the expense of non-renewable resources, while forecasts for energy consumption indicate that the world's oil reserves will run out in 40 years, natural gas reserves - in 63 years, and coal reserves - in 133 years.
"At present, 32 percent of Turkey's energy consumption falls to natural gas, 31 percent - to oil, 28 percent - to coal, and nine percent - to other hydrocarbons," Yilmaz said.
According to the council head, the transition to renewable energy resources is important for Turkey, as the country imports energy resources.
"Some 75 percent of Turkey's energy consumption is ensured at the expense of imports, and the country pays $40 billiona on average per year," Yilmaz said.