Following President Recep Tayyip Erdoğan’s meeting with US President Donald Trump at the White House, Turkey and the US signed significant energy agreements. Under this agreement, Turkey will import natural gas from the US until 2045.
Turkey to Purchase Natural Gas from the US
A natural gas supply agreement was signed between BOTAŞ and US gas producer Mercuria. The agreement covers a 20-year period and includes a total import of 70 billion cubic meters of natural gas. With this agreement, Turkey will import 4 billion cubic meters of liquefied natural gas (LNG) annually.
Deliveries of these imports, valued at $43 billion, will begin in early 2026 and continue until the end of 2045. Turkey’s annual natural gas consumption is approximately 50 billion cubic meters, and it currently meets a large portion of its liquefied natural gas needs from Russia.
Energy and Natural Resources Minister Alparslan Bayraktar made a statement on the matter. Bayraktar said, “The companies have already expressed their intention to expand their relations beyond the envisioned LNG sales agreement and build strategic cooperation in the broader region. We strongly support this vision.”
Following the talks between the two countries, the US Embassy announced another critical development. The Iraq-Turkey oil pipeline is reopening. According to the embassy, oil shipments from oil fields in the Iraqi Kurdish Regional Government (KRG) to Turkey will begin tomorrow.
The statement stated that this agreement will provide tangible benefits to the Americans and Iraqis. Oil flow through the pipeline was halted on March 25, 2023, due to an international arbitration ruling.
