BOTAŞ signs LNG agreement with Total
BOTAŞ and TotalEnergies signed a 10-year LNG agreement. Under the agreement, Turkey will supply 1.6 billion cubic meters of LNG annually for 10 years starting in 2027.
Turkey has signed a new 10-year supply deal with TotalEnergies SE for 1.6 billion cubic meters per year, following Exxon Mobil Corp. and Shell Plc, according to sources close to the matter. The deal boosts Turkey’s capacity to trade gas to Europe and other countries in the region, including Egypt, and increases its bargaining power in new gas deals with Russia and Iran.
Minister of Energy and Natural Resources Alparslan Bayraktar attended the LNG supply agreement ceremony between France’s TotalEnergies and BOTAŞ in Houston, USA yesterday evening. Under the agreement, Turkey will supply 1.6 billion cubic meters of LNG annually for 10 years starting in 2027. BOTAŞ’s deal with Shell Plc envisaged an annual supply of 4 billion cubic meters and its deal with Exxon Mobil Corp. envisaged an annual supply of 2.5 million tons.
It is important for Turkey that the start dates of all three agreements are 2027. The new LNG deals strengthen Turkey’s hand in negotiations to renew its long-term supply contracts with Iran and Russia, which expire in 2025 and 2026.
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