Turkey Signs Long-Term LNG Deal with Shell
Turkey's state-owned energy company Botas is set to sign a significant long-term liquefied natural gas (LNG) deal with British oil giant Shell. The announcement was made by the Energy Ministry, highlighting a meeting between Turkish Energy Minister Alparslan Bayraktar and Shell's CEO, Wael Sawan, scheduled to take place in Ankara. This agreement is part of Turkey's broader strategy to secure its energy needs amid rising consumption.
The specifics of the deal have yet to be disclosed, but it follows Botas's recent 10-year LNG agreement with ExxonMobil, under which Turkey will import up to 2.5 million tons of natural gas annually. In the previous year, Turkey imported 14.3 billion cubic meters of LNG, which accounted for 28.3% of its total gas consumption of 50.5 billion cubic meters. This underscores the country's reliance on imported gas and its strategic shift towards LNG to enhance energy security.
- Turkey has been increasingly focusing on diversifying its energy sources, especially as its demand for natural gas continues to grow. The new deal with Shell is expected to bolster Turkey's energy supply, providing greater flexibility in meeting national consumption needs. With the ability to gasify approximately 0.16 billion cubic meters of LNG per day, Turkey aims to reduce its dependency on pipeline gas, which can be more vulnerable to geopolitical tensions.
