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.
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