Turkey signs LNG supply deal with ExxonMobil
This news was first reported in Azeri News: https://www.azernews.az/region/225864.html.
Turkey's state pipeline company, BOTAS, and ExxonMobil signed an LNG supply agreement, as Turkey aims to diversify its energy sources.
This long-term deal, joining contracts with Nigeria and Algeria, along with the U.S., is poised to fulfill about 8% of Turkey's gas requirements. With an annual gas consumption surpassing 50 Bm3, Turkey has been boosting its LNG imports, which constituted 30% of its gas purchases in 2023 and could rise to 40% by 2024.
Moreover, Turkey receives pipeline gas from Russia, Azerbaijan and Iran, with Russian gas making up 40% of its total consumption. As existing Russian gas contracts expire in 2025, Turkey is actively forging new gas contracts globally.
Additionally, Turkish Energy Minister's hinted at forthcoming energy projects with Caspian countries, aiming to bolster European and global energy security, although specifics were not disclosed.
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