Turkey, US sign $43m LNG deal for 20 years

By Usama Zahid

beuro Chief south Asia

Scandinavian News

Turkey has signed a major LNG supply deal with the United States, valued at $43 million, covering 70 billion cubic meters over 20 years.

Under the agreement, 4 billion cubic meters of LNG will be supplied to Turkey starting in 2026. Currently, Ankara imports around 2 billion cubic meters of LNG annually from the US.

Turkey’s annual LNG consumption stands at 54 billion cubic meters and is rising by 9.5% each year. In addition to US imports,

Turkey sources LNG from Russia (2.65 bcm), Azerbaijan (775 million cubic meters), and Iran (241 million cubic meters) through long-term contracts.

Russia remains Turkey’s largest energy supplier, covering nearly 40% of Ankara’s energy needs. Turkey also imports LNG from Algeria, Egypt, and Mozambique to diversify its supply sources.

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