Turkey Extends LNG Deal with Algeria for Three Years
(Reuters) — Turkish state energy company Botas has signed a deal with Algerian state oil and gas company Sonatrach to extend their existing gas supply contract for three years, Turkey's energy minister said on Tuesday.
Under the deal signed during an official visit to Algiers by Turkish President Tayyip Erdogan, Turkey will continue to acquire 4.4 billion cubic meters (Bcm) of LNG from Algeria annually, Alparslan Bayraktar said in a statement posted on social media platform X.
Botas and Sonatrach first signed a gas supply contract in 1988, and it has been extended since then. The existing contract was due to expire in October next year, and it was extended until 2027, the Turkish energy ministry said.
Turkey, which has little oil and gas, is highly dependent on imports from Russia, Azerbaijan and Iran, as well as LNG from Algeria, Qatar, the United States and Nigeria.
Ankara is also developing a 710 Bcm natural gas field in the Black Sea for production.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
Comments