Turkiye inks major LNG deal with ExxonMobil
By Alimat Aliyeva, AZERNEWS
The Turkiye 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 Turkiye 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 Turkiye's gas needs," Bayraktar said.
Turkiye 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.
Turkiye also receives pipeline gas from Russia, Azerbaijan and
Iran, while 40 percent of the gas consumed by Turkiye is pipeline
gas from Russia.
Long-term contracts for the supply of Russian gas to Turkiye 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 Turkiye'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 Turkiye will contribute to ensuring European and global energy security," the head of the Turkish Energy Ministry said without specifying details.
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