Türkiye moves to extend gas supply contracts with Russia: Details
Worker near the Nord Stream 2 pipeline (Photo: Getty Images)
Türkiye and Russia are discussing the extension of natural gas supply agreements beyond 2026, as the current contracts expire at the end of this year, reports Bloomberg.
Türkiye's state-owned company Botas is negotiating with Russian gas giant Gazprom to renew import contracts, Turkish Energy Minister Alparslan Bayraktar told Bloomberg at the Baku Energy Forum in Azerbaijan.
According to him, the potential volumes and duration have not yet been agreed upon.
It is noted that in December, Ankara extended two contracts with Gazprom for receiving gas via the TurkStream and Blue Stream pipelines.
As is known, Türkiye is the company's second-largest market after China, as Gazprom lost most of its customers in Europe after the invasion of Ukraine in 2022.
As previously reported, the reorientation of Russian liquefied natural gas (LNG) exports from Europe to Asia could result in a significant revenue drop for Moscow due to a sharp increase in logistics costs.
The US has sharply increased LNG exports to Europe, actively expanding capacity on the Gulf Coast.
