Turkey aims to export 900MW of electricity to Syria by first quarter of 2026


Alvin R Cabral
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Turkey plans to export about 900 megawatts of electricity to Syria by the first quarter of 2026 as part of its plans to help boost the latter's rebounding economy, the Turkish minister of energy and natural resources has said.

Syria's northern territory is already receiving nearly 300MW of power from its neighbour and the "first step over the next few weeks" is to raise this to 360MW, Alparslan Bayraktar said in an interview with Sky News Arabia on Tuesday.

The "ultimate goal" is to increase the capacity available from Birecik in Turkey to Aleppo by an additional 500MW over the next few months, he said.

"There are things needed to be done in the Syrian territory for this interconnection but beginning in the first quarter of 2026 ... we will be able to supply almost 900MW of direct electricity exports to Syria," he added.

Turkey is positioning itself to be a key ally of Syria, which is emerging from a years-long economic struggle underpinned by a costly civil war.

After the regime of Bashar Al Assad was toppled in December, the situation in Syria has been improving, with western sanctions lifted this year. Gulf states, including the UAE, are moving quickly to invest in Syria’s post-Assad future, offering diplomatic, financial and infrastructure support.

Last week, Turkey began the first deliveries of natural gas from Azerbaijan to Syria through the Turkish province of Kilis, part of a two-billion-cubic-feet-per-year pledge from Ankara in May.

"We are looking for reliable, long-term [power] supply for Syria," in addition to potash and potential liquefied natural gas supplies, Mr Bayraktar said.

Meanwhile, Turkey is optimistic it will be able to continue on with its half-century-old oil pipeline deal with Iraq following last month's move to end the partnership, the minister said.

The Kirkuk-Ceyhan oil pipeline, in place since 1975, will expire on July 27, 2026. Ankara announced an end to it on July 21, but it swiftly came up with a new proposal to establish a broader agreement that Iraq said it was considering.

Turkey wanted to "change one thing – to fully utilise" the 970km pipeline to allow the smoother flow of crude and help Iraq's economy, Mr Bayraktar said.

Iraq's oil "goes to global markets through the Gulf of Basra and Strait of Hormuz, and we have witnessed in the last few weeks when Israel attacked Iran, the blockage of the Strait of Hormuz might affect all these oil transport and exports", he said.

"I think it's also good for Iraq to diversify its export routes; Iraq has huge potential for production – Northern Iraq [especially] has huge potential."

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Rating: 4/5

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Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

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Second Test

Pakistan v Australia, Tuesday-Saturday, 10am​​ daily​​​​​ at Zayed Cricket Stadium, Abu Dhabi

Entrance is free

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  • Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
  • Some Kids I Taught and What They Taught Me by Kate Clanchy
  • Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
  • Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
  • Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
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Updated: August 12, 2025, 1:15 PM