Turkish BOTAS, US ExxonMobil announce partnership for LNG trade
(MENAFN) On Wednesday, the Turkish Petroleum Pipeline Corporation (BOTAS) and ExxonMobil, a prominent US energy entity, unveiled a significant collaboration centered on liquefied natural gas (LNG) trade. This announcement came from Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, who disclosed the details of the partnership during his visit to Washington DC for discussions.
Bayraktar emphasized the strategic importance of the agreement, characterizing it as a pivotal move towards enhancing the diversification of energy resources within Turkey. He underscored the existing LNG trade dynamics between Turkey and the United States, highlighting the potential for further expansion and cooperation in this realm.
In a statement, Bayraktar articulated Turkey's unique position in the global energy landscape, particularly its robust gasification capacity, which places it among a select group of nations. He expressed Turkey's commitment to bolstering energy supply security both domestically and regionally, emphasizing the significance of sustainable partnerships such as the one forged with ExxonMobil.
The Minister had previously indicated Turkey's ongoing negotiations with ExxonMobil for a substantial LNG procurement deal exceeding USD1 billion. According to Bayraktar, these discussions revolve around securing 2.5 million tonnes of LNG, representing a significant investment valued at approximately USD1.1 billion. He suggested that the envisioned agreement could span a decade, underscoring the long-term strategic vision guiding Turkey's energy policies.
Turkey boasts a robust infrastructure network comprising seven international natural gas pipelines and five LNG facilities, including three floating storage and regasification units (FSRU) alongside two underground natural gas storage facilities. Positioned as a pivotal gas hub in the region, Turkey aims not only to excel as an exporter but also to effectively manage and leverage the gas resources it provides, thereby solidifying its role as a key player in the global energy arena.
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