Strategic Transformation
Sustainable Refining
As part of our strategic roadmap, we are utilizing our existing resources to fuel our transformation while pursuing sustainability in our refining operations by investing in energy efficiency, increased productivity, and value-added products.
From 2022 to 2035,
Capital Expenditure ~$2.3 billion
Cumulative EBITDA ~$3 billion
Improvement in Energy Density from 102,2 (Base Year = 2017) → 91,2
Biofuels
We know that biofuels are the key to decarbonizing the aviation industry. Therefore, we are working to further advance our sustainability vision through environmentally friendly fuel production and to become Türkiye's leading sustainable aviation fuel (SAF) manufacturer.
We have completed basic engineering work for SAF production and will be using Honeywell's UOP Ecofining™ technology at our Izmir refinery.
By focusing on SAF, we will continue to be the biggest supporter and business partner of the world-class Turkish aviation industry. Our activities in this area will also contribute significantly to reducing industrial emissions.
Capital Expenditure
~$600 million
Cumulative EBITDA
~$1.1 billion
From 2022 to 2035, Unit Investment will be made in our Izmir Refinery~
~600 million Cumulative Capex, ~$1.1 billion Cumulative EBITDA
At first stage
~400 thousand tonnes
of biofuels production capacity
By 2030
~10% share in
jet fuel sales
In biofuels production
~70% SAF efficiency
( ~300 thousand tonnes/year)
OUR SAF PRODUCTION CAPACİTY
WILL TRIPLE BY 2035
Zero-Carbon Electricity
While we will use most of the electricity produced in our future green hydrogen generation plants for integration purposes, we will also sell electricity for optimization purposes and provide zero-carbon electricity to consumers.
Endeavoring to be the leading zero-carbon electricity producer in Türkiye, we took over shares of Entek, which has eight hydropower plants, two wind power plant and 380 MW of zero-carbon electricity capacity. Entek has applied for preliminary licensing for a total capacity of ~1,5 GW and accompanying storage areas.
From 2022 to 2035;
Capital Expenditure
~$1.3 billion*
Cumulative EBITDA
~$400 million*
*Each figure does not include Entek’s projections.
Green Hydrogen
As Türkiye's leading hydrogen producer, we aim to create a green value chain for hydrogen. To this end, we began transforming our current hydrogen production from gray to green, using different electrolysis technologies and zero-carbon electricity.