Turkey intends to update gas agreements on more favorable conditions

Turkey intends to update gas agreements on more favorable conditions
  • Clock-gray 18:46
  • calendar-gray 10 September 2020

The Turkish government expects that gas suppliers will offer more competitive prices and flexibility in the framework of updating of long-term agreements with gas suppliers, said a senior official of Turkey’s Ministry of Energy and Natural Resources, APA-Economics reports citing foreign press.

 

He said the total scope of the agreements in terms of volume makes up 16 bln. cubic meters annually.

He added that the competition that started with the USA’s cheap liquid gas and the potential of commencement of gas production in Black Sea by Turkey have changed dynamics on the market.

 

It was noted that over one fourth of the long-term gas agreements will expire in the next year and this includes natural gas imported from Azerbaijan and Russia, as well as liquid gas imported from Nigeria.

APA-Economics

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