Tuesday, 02 January 2024 12:17 GMT

Turkey Actively Diversifies Energy Supply Sources - TUID


(MENAFN- UkrinForm) This was stated by Burak Pehlivan, head of the Turkish-Ukrainian Business Association (TUID), in a comment to Ukrinform.

“Every country has short-, medium-, and long-term plans for energy procurement tailored to its specific needs. The process of diversifying supply sources is a natural one. We've seen this especially in Turkey's energy needs in recent years. The country is currently undertaking serious efforts to expand its energy supply sources,” said Pehlivan

The expert also forecasted a rise in LNG imports from the U.S.

Read also: UK sanctions targeting Russia's oil giants Rosneft and Lukoil

“Recent agreements indicate that Turkey's LNG purchases from the United States are likely to increase soon. However, the U.S. is certainly not the only option for Turkey's gas imports,” he added.

Turkey currently imports around 40% of its natural gas and more than 60% of its oil from Russia.

During a meeting at the White House on September 25, U.S. President Donald Trump stated that Turkey should halt its energy imports from Russia, particularly oil.

According to data from LSEG, Turkey is the second-largest importer of Russian seaborne Urals crude oil after India. In June of this year, Turkey purchased 1.6 million tonnes of Urals crude - the highest volume since May 2024. However, LSEG forecasts that imports of Russian oil to Turkey will drop to approximately 1.2 million tonnes in October.

As previously reported by Ukrinform, in September, Turkish state energy company BOTAŞ signed an agreement with global energy firm Woodside Energy to supply LNG to Turkey from a U.S. field in Louisiana. Additionally, a 20-year LNG supply deal was reached with Mercuria, a leading independent global energy and commodities group.

Photo: Burak Pehlivan's archive

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