BOTAS Signed Ten-Year LNG Purchase Contract with TotalEnergies

SEATTLE (Oil Monster): A ten-year agreement has been reached between BOTAS, the state-owned crude oil and natural gas pipelines and trading firm in Turkey, and TotalEnergies, the leading French energy giant, for the purchase of liquefied natural gas (LNG) beginning in 2027.

Alparslan Bayraktar, Turkish Energy Minister made the announcement, saying that the agreement was finalised during the recently held Houston GasTech conference. According to him, the long-term deal will be crucial in guaranteeing the security of the energy supply throughout the region, not just in Turkey.

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TotalEnergies, meanwhile, stated that the deal will help the business increase its long-term foothold in the Turkish LNG market. Gregory Joffroy, senior vice-president of TotalEnergies LNG, stated that the agreement will lessen the company's exposure to spot market gas price swings and help to ensure long-term sales.

This is Turkey's fourth significant LNG contract inked so far this year. It first struck a ten-year LNG arrangement with Oman in April of this year, and then it signed another agreement with ExxonMobil. It also inked a ten-year contract with Shell this month, with an effective date of 2027.

The majority of the nation's gas imports come from Azerbaijan, Iran, and Russia.