BAKU, Azerbaijan, April 29. Türkiye is in negotiations with the energy giant ExxonMobil for a multi-billion-dollar deal to purchase liquefied natural gas (LNG), the country's Energy Minister Alparslan Bayraktar said in an interview with the Financial Times (FT), Trend reports.
"Türkiye aims to create a 'new supply portfolio' that will make it less dependent on any single partner," Bayraktar emphasized.
According to him, the country can receive up to 2.5 million tons of LNG per year under a long-term agreement (approximately 10 years) discussed with ExxonMobil.
"The commercial terms of the deal are still being discussed," clarified the minister.
FT noted that Türkiye's negotiations with ExxonMobil come at a time when Russian gas exports to Europe are declining and a 14th round of sanctions is planned.
According to LSEG data, Russian exports of liquefied natural gas (LNG) to Europe fell by two percent to 15.8 million tons in 2023.
Russia is currently the largest gas supplier to Türkiye (both pipeline deliveries and LNG).
Türkiye has five LNG terminals and receives liquefied gas from Algeria, Qatar, the US, and Nigeria.
Through pipelines, Türkiye receives gas from Russia, Azerbaijan, and Iran.
Türkiye's annual gas demand exceeds 50 billion cubic meters.