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."

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Group A:
Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)

Women’s Singles 
Group A:
Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)

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7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 1,400m | Winner: Al Hayette, Fabrice Veron, Ismail Mohammed

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9.25pm: Handicap (T) $175,000 1,400m​​​ | Winner: Another Batt, Connor Beasley, George Scott

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Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

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Updated: August 12, 2025, 1:15 PM