An important agreement was announced today by the Minister of Energy and Natural Resources of Turkey Alparslan Bayraktarwhich will reduce the country’s energy dependence on Russia and expand its choice of suppliers. The Minister of Energy and Natural Resources announced the conclusion of a 10-year agreement for the receipt of liquefied natural gas from the French company TotalEnergies. The agreement between the Turkish state oil and gas company BOTAŞ and TotalEnergies was signed in Houston, USA, in the framework of the world’s largest energy conference, Gastech.

“The 10-year agreement will start in 2027 and 16 cargoes of liquefied cargo of up to 1.6 billion cubic meters per year will be delivered,” the Turkish energy minister said in a social media post.

Turkey’s energy needs are constantly increasing

Turkey largely covers its energy needs in natural gas from Azerbaijanthe Iran and especially the Russiathrough pipelines. Half of the natural gas imported into Turkey originates from Russia, however it also buys LNG from Qatar, Nigeria, Algeria and the US. Turkey’s energy needs are constantly increasing and, therefore, it is looking forward to long-term agreements to ensure a stable energy supply and to increase the diversity of energy resources, as the Turkish Energy Minister emphasized.

Yesterday Mr. Bairaktar in his speech at Gastech conference explained Turkey’s vision for energy transformation, saying his country has made major investments in natural gas infrastructure, underground storage and domestic gasification plants. “Now,” he said, “our entire supply portfolio is being converted from long-term gas contracts to more flexible, long-term energy contracts. We develop policies to meet global demand, reduce dependency and address the energy transition. Therefore, we are in a position where we cannot say no to alternative energy solutions or sources from any direction.”