Turkish Energy Minister Alparslan Bayraktar announced on Monday the completion of a ten-year LNG contract between the UK oil giant Shell and the state-owned Turkish energy company Botas.
Bayraktar declared that approximately 40 shipments of liquefied natural gas, or roughly 4 billion cubic meters, will be supplied annually starting in 2027 and going forward for ten years.
“This agreement makes it possible to receive LNG from the loading port and deliver it to terminals in Europe, expanding local and global trade opportunities. “.
During the ceremony, Bayraktar said that the agreement has strengthened Turkey’s potential to serve as a hub for natural gas, thereby increasing its role in the energy security of Europe.
Botas and ExxonMobil signed a ten-year agreement in May whereby Botas would purchase up to 2.5 million tons of liquefied natural gas per year from the American company.
For almost all of its energy needs, Turkey is primarily dependent on imported gas. It imported 14.3 billion cubic meters (bcm) of LNG last year, making up 283 percent of the 50.05 bcm of LNG it consumed overall.
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