The Turkish Ministry of Energy and Natural Resources announced today that it has taken an important step towards enhancing energy security in the country, by reaching a potential agreement with the American company “ExxonMobil” to purchase the equivalent of 2.5 million tons of liquefied natural gas annually at a value of $1.1 billion.

According to the statement issued by the ministry, this agreement comes within the framework of Turkey's efforts to diversify its energy sources and reduce its dependence on only one supplier, especially with the increasing demand for natural gas in the country.

The Minister of Energy and Natural Resources, Alp Arslan Bayraktar, explained in an interview with the British newspaper the Financial Times that the agreement, which is still under negotiation, may last for 10 years, with the possibility of extending it.

This agreement represents a strong boost to Türkiye's efforts in the field of energy security. It will contribute to providing a stable supply of natural gas at reasonable prices.

In addition, Türkiye continues its efforts to explore and extract natural gas from its offshore fields in the Black Sea. The Turkish authorities stress that these projects represent a “game changer” in the energy field.

Türkiye suffers from a large energy deficit. It relies on importing most of its natural gas needs and seeks to reduce this dependence by diversifying energy sources, investing in renewable energy projects, and enhancing energy efficiency.

This agreement with ExxonMobil is an important step in Turkey's path towards achieving energy security and achieving energy independence.