Turkiye Inks Major LNG Deal With Exxonmobil
Date
5/10/2024 3:11:45 PM
(MENAFN- AzerNews) By Alimat Aliyeva, AZERNEWS
The Turkiye state pipeline company BOTAS and the Americancorporation ExxonMobil signed an agreement on the supply ofliquefied natural gas (LNG) to Turkey on May 9 in Washington, Azernews reports.
Bayraktar said that the signed agreement is designed for along-term period and allows Turkiye to take another step towardsdiversifying 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 UnitedStates to them. Today we are talking about an agreement withExxonMobil that can meet eight percent of Turkiye's gas needs,"Bayraktar said.
Turkiye consumes over 50 billion cubic meters of gas peryear.
Earlier, Turkish media reported that at the current level of gasprices, BOTAS has agreed with ExxonMobil to supply 1.1 billion USdollars per year for 2.5 million tons of LNG per year.
In 2023, the share of LNG in Turkey's total gas purchaseportfolio was 30 percent, but in 2024 it may grow to 40percent.
Turkiye also receives pipeline gas from Russia, Azerbaijan andIran, while 40 percent of the gas consumed by Turkiye is pipelinegas from Russia.
Long-term contracts for the supply of Russian gas to Turkiyeexpire in 2025, and Bayraktar in late April announced the formationof a new portfolio of Turkish gas contracts with various globalsuppliers.
According to the Turkish newspaper Star, the Turkish EnergyMinister in Washington on May 9 also announced Turkiye's plans toimplement new energy projects with the Caspian countries.
"New infrastructure projects to be implemented between thecountries of the Caspian region and Turkiye will contribute toensuring European and global energy security," the head of theTurkish Energy Ministry said without specifying details.
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