FT: Turkey wants to increase LNG purchases from the US to reduce its dependence on russia
Kyiv • UNN
Turkey is seeking a long-term agreement with ExxonMobil to import up to 2.5 million tons of LNG annually, which would reduce its dependence on russian gas supplies.
In an effort to reduce its dependence on russia, Turkey wants to negotiate with the American energy company ExxonMobil on the purchase of liquefied natural gas. This was reported by UNN with reference to Financial Times.
Details
It is noted that Turkey currently imports almost all of its natural gas from russia. However, under the current circumstances, Ankara is seeking to create a "new supply portfolio" that will make it less dependent on any one partner.
Turkish Energy Minister Alparslan Bayraktar explained that Turkey will receive up to 2.5 million tons of LNG per year through a long-term deal being discussed with Exxon. Previously, this would have been enough to cover about 7% of Turkey's natural gas consumption last year,
According to FT, russia accounts for about 40% of Turkey's LNG consumption. Moscow is also Turkey's largest oil supplier and will own the country's first nuclear power plant, which is currently under construction on the Mediterranean coast.
To ensure reliable supplies, we need to get gas from somewhere. It can be russia, it can be Azerbaijan, it can be Iran or other options
Bayraktar added that Turkey has made efforts to expand its LNG receiving and storage infrastructure. About 30% of Turkey's natural gas imports last year were LNG, compared to 15% in 2014.
Turkey also conducts its own exploration and production, including a large gas facility in the Black Sea and oil drilling in the southeast of the country.
According to Bayraktar, the country may also start oil exploration in the Black Sea this year
Addendum
It is noted that Exxon has ambitious plans to expand its LNG portfolio to 40 million tons per year by 2030, which is about twice as much as in 2020.
Exxon said it has held initial talks with the Turkish government on potential LNG opportunities.
Recall
Italian Energy Minister Gilberto Piquetto-Fratin said that his country is ready to support EU sanctions on russian liquefied natural gas (LNG), as it has diversified its gas supplies and can do without russian gas completely.
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