Türkiye’s leader Erdogan meets with Shell CEO for discussions

(MENAFN) Turkish President Recep Tayyip Erdogan met with Wael Sawan, the Chief Executive Officer of British oil giant Shell, on Monday in a closed-door session at the presidential palace in Ankara. This high-level discussion follows the recent signing of a significant energy agreement between Turkish state energy company Botas and Shell. The deal, which is set to commence in 2027, involves Shell supplying Türkiye with liquefied natural gas (LNG) under a 10-year contract.

According to Turkish Energy Minister Alparslan Bayraktar, the agreement stipulates the delivery of approximately 4 billion cubic meters of LNG annually, amounting to a total of 40 billion cubic meters over the duration of the contract. This arrangement underscores the strategic partnership between Türkiye and Shell, aimed at enhancing the country's energy security and diversification.

Bayraktar also highlighted that the agreement offers additional opportunities for regional and global trade. It includes flexible options such as loading LNG from the supply port and unloading at European terminals, which could potentially open new avenues for energy trade and cooperation.

This development is a notable step in Türkiye’s efforts to strengthen its energy infrastructure and diversify its energy sources, reflecting its ongoing commitment to securing stable and long-term energy supplies.

MENAFN03092024000045015839ID1108629330