Turkey has entered into a significant deal with Shell, a British energy giant, to supply billions of cubic metres of liquefied natural gas (LNG). Starting in 2027, Shell will provide four billion cubic metres of LNG annually to Turkey for both domestic consumption and re-export.
As an emerging player in the energy market, Turkey, despite its recent gas discoveries and oil redistribution capabilities, remains a net importer. The deal with Shell will cover eight percent of Turkey’s current gas requirement, aiding in regional and global trade opportunities.
The agreement also includes provisions for Turkey’s state-owned pipeline company, Botas, to enhance its LNG transportation capabilities. With ambitions to become an energy hub bridging Asia and Europe, Turkey aims to connect gas supplies from various sources to western markets.
This deal follows a similar agreement with Exxon earlier this year and comes after Turkey’s significant natural gas discovery in the Black Sea. With the country’s gas production expanding, Turkey is set to secure its energy needs for years to come.