financetom
Business
financetom
/
Business
/
Turkey's Botas, Shell to sign long-term LNG deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Turkey's Botas, Shell to sign long-term LNG deal
Sep 2, 2024 1:45 AM

ANKARA, Sept 2 (Reuters) - Turkish state energy company

Botas and British oil major Shell will sign a long-term

LNG agreement on Monday, the Turkish Energy Ministry said.

It said Energy Minister Alparslan Bayraktar would meet with

Shell Chief Executive Wael Sawan in Ankara on Monday, after

which the minister will make a statement and a long-term LNG

deal will be signed between Botas and Shell.

No further details on the deal were immediately available.

Botas signed a 10-year LNG agreement with ExxonMobil ( XOM )

in May, under which Botas will purchase up to 2.5 million tons

of LNG per year from the U.S. company.

Turkey meets almost all of its consumption needs with

imported gas and brought in 14.3 billion cubic metres (bcm), or

28.3% of the 50.5 bcm that it consumed last year, in the form of

LNG.

Turkey has the supply flexibility to a large part of

national consumption needs with liquefied gas instead of

pipeline gas if needed, with a gasification capacity of

approximately 0.16 bcm LNG per day, according to Reuters

calculations.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved