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The Turkey state pipeline company BOTAS and the American corporation ExxonMobil signed an agreement on the supply of liquefied natural gas (LNG) to Turkey on May 9 in Washington, Azernews reports.
Bayraktar said that the signed agreement is designed for a long-term period and allows Turkey to take another step towards diversifying energy sources.
“Previously, we had long-term LNG supply contracts with Nigeria, now we have a 20-year agreement with Algeria, and we add the United States to them. Today we are talking about an agreement with ExxonMobil that can meet eight percent of Turkey’s gas needs,” Bayraktar said.
Turkey consumes over 50 billion cubic meters of gas per year.
Earlier, Turkish media reported that at the current level of gas prices, BOTAS has agreed with ExxonMobil to supply 1.1 billion US dollars per year for 2.5 million tons of LNG per year.
In 2023, the share of LNG in Turkey’s total gas purchase portfolio was 30 percent, but in 2024 it may grow to 40 percent.
Turkey also receives pipeline gas from Russia, Azerbaijan and Iran, while 40 percent of the gas consumed by Turkey is pipeline gas from Russia.
Long-term contracts for the supply of Russian gas to Turkey expire in 2025, and Bayraktar in late April announced the formation of a new portfolio of Turkish gas contracts with various global suppliers.
According to the Turkish newspaper Star, the Turkish Energy Minister in Washington on May 9 also announced Turkey’s plans to implement new energy projects with the Caspian countries.
“New infrastructure projects to be implemented between the countries of the Caspian region and Turkey will contribute to ensuring European and global energy security,” the head of the Turkish Energy Ministry said without specifying details.
