Turkey will buy liquefied natural gas from the USA

Turkey will buy liquefied natural gas from the US to reduce its dependence on Russian energy carriers. This was stated by Turkish Energy Minister Alparslan Bayraktar in an interview with the Financial Times, TGK ZN, UA writes.

Ankara is currently negotiating with the American energy company ExxonMobil on the purchase of 2.5 million tons of LNG per year. Previously, this volume would have cost Turkey $1.1 billion.

According to the minister, the country, which imports almost all of its natural gas, seeks to create a "new supply portfolio" that will make it "less dependent on any one partner."

The talks come amid improved relations between Turkey and the United States after Ankara lifted its veto on Sweden's entry into NATO and Washington agreed to sell Turkey billions of dollars worth of F-16 fighter jets. And at a time when Turkey is seeking to reposition itself as a regional energy power hub.

Bayraktar says Ankara has also approached other U.S. companies for LNG deals as it seeks to diversify its natural gas supply before some of its long-term contracts with Russia expire in 2025 and contracts with Iran expire next year. Ankara also has long-term agreements with Algeria and Oman.

Turkey has made great efforts to expand its LNG receiving and storage infrastructure. About 30% of Turkey's natural gas imports last year were LNG, up from 15% in 2014.

Turkey is also embarking on its own exploration and production activities, including a large gas field in the Black Sea and drilling oil wells in the country's southeast.

Author - Serhii Kolomiets, 29/04/2024