Turkey Bolsters Energy Diversity with Strategic U.S. LNG Deal
Turkey has secured a 20-year deal with Mercuria to import U.S. liquefied natural gas. This move is part of Ankara's strategy to diversify its energy sources amid geopolitical tensions. The deal aims to strengthen Turkey's energy security and aligns with ongoing efforts to boost trade ties with the U.S.
In a strategic move to diversify its energy portfolio, Turkey has signed a significant 20-year agreement with trading company Mercuria for the purchase of U.S. liquefied natural gas (LNG). This development was announced by Energy Minister Alparslan Bayraktar and occurs as Turkey works to lessen its dependency on Russian energy imports.
The agreement is part of a broader initiative to bolster Turkey's energy security, which involves securing new supply lines as current contracts with Russia near expiration. The deal coincides with European Union plans to phase out Russian LNG imports by 2026 under sanctions aimed at Moscow amid its ongoing conflict with Ukraine.
Turkey's state energy company BOTAS inked the deal during President Tayyip Erdogan's visit to New York. Deliveries will begin in 2026, amounting to four billion cubic meters annually, sourced from terminals in the U.S., Turkey, Europe, and North Africa. This agreement is expected to boost the trade volume between the United States and Turkey, targeting a $100 billion trade milestone.
(With inputs from agencies.)
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