Minister of Energy and Natural Resources Alparslan Bayraktar said, “If the negotiations with Exxon are completed, the agreement may last 10 years.”
Minister of Energy and Natural Resources Alparslan Bayraktar announced that negotiations were held with the US energy company Exxon Mobil for 2.5 million tons of liquefied natural gas (LNG) worth approximately $1.1 billion.
According to the statement made by the Ministry of Energy and Natural Resources, Minister Bayraktar, in his interview with the British Financial Times newspaper, emphasized that Turkiye has taken various steps to increase its independence in energy.
Noting that Turkiye imports almost all of its natural gas needs, Bayraktar stated that they aim to create a new supply portfolio without being dependent on a single supplier.
Bayraktar pointed out that they were negotiating with Exxon for a long-term agreement in this context and stated that Turkiye will provide 2.5 million tons of LNG annually with the agreement. Minister Bayraktar stated that if the negotiations with Exxon are completed, the agreement may last 10 years.
Stating that they are evaluating gas purchasing options from different sources to ensure Turkiye’s supply security, Bayraktar said, “We need to buy gas from somewhere for supply security. This could be Russia, Azerbaijan, Iran or LNG options. We need to evaluate from a competitive point.” He stated that they will focus on the most suitable options.
Bayraktar reminded that they are cooperating with Russia in the construction of Turkiye’s first nuclear power plant, Akkuyu, and mentioned that South Korea, as well as Russia, has serious interest in a similar nuclear project in the Black Sea.
Stating that Turkiye extracts and processes natural gas in the Black Sea and oil in the Southeast, Bayraktar also stated that oil will be explored as well as natural gas in the Black Sea at the end of this year.
Minister Bayraktar underlined that these projects “have the potential to change the rules of the game.”
Source: AA / Prepared by Irem Yildiz