Skip to content Skip to Search
Skip navigation

Turkey extends LNG deal with Algeria for three years  

By Reuters
Qatar aims to expand its liquefaction capacity to 126 mtpa by 2027 from 77 mtpa Reuters/Issei Kato
Turkey will continue to acquire 4.4 billion cubic metres of LNG from Algeria annually

Turkish state energy company Botas has signed a deal with Algerian state oil and gas company Sonatrach to extend their existing gas supply contract for three years, Turkey’s energy minister said on Tuesday.

Under the deal signed during an official visit to Algiers by Turkish President Tayyip Erdogan, Turkey will continue to acquire 4.4 billion cubic metres (bcm) of liquefied natural gas (LNG) from Algeria annually, Alparslan Bayraktar said in a statement posted on social media platform X.

Botas and Sonatrach first signed a gas supply contract in 1988, and it has been extended since then. The existing contract was due to expire in October next year, and it was extended until 2027, the Turkish energy ministry said.

Turkey, which has little oil and gas, is highly dependent on imports from Russia, Azerbaijan and Iran, as well as LNG from Algeria, Qatar, the United States and Nigeria.

Ankara is also developing a 710 bcm natural gas field in the Black Sea for production.  Turkey will continue to acquire 4.4 billion cubic metres (bcm) of liquefied natural gas (LNG) from Algeria annually,

Latest articles

Gulf airlines, Gulf airlines conflict, Gulf conflict risk, Gulf flights cancelled rerouted

Conflict risk leads Gulf airlines to cancel regional routes

Gulf airlines are among airlines that have cancelled and rerouted flights across the Middle East as the conflict between Iran and Israel escalates. They are avoiding Iranian airspace and many have cancelled routes entirely following a major missile attack by Iran against Israel on Tuesday. Immediately after the attacks about 80 flights operated by carriers […]

Taaleem's schools offer 'exclusive educational experiences' including access to high-tech equipment profits

Dubai school operator Taaleem increases profit by 55%

Dubai school operator Taaleem has reported revenue of AED945.2 million ($257.3 million) for its 2023-24 financial year – a 15.5 percent year-on-year increase. More student enrolments and the opening of new schools helped Taaleem to increase net profit before tax by 55 percent, to AED182 million, in the financial year ending August. Taaleem’s shares were […]

Shein IPO

Mubadala-backed Shein courts investors before London IPO

Chinese fashion retailer Shein, which is backed by the Abu Dhabi sovereign wealth fund Mubadala, is courting European investors before an initial public offering on the London Stock Exchange. Shein is due to hold informal meetings to answer questions and test the investment appetite of major investors in the coming weeks, before its planned IPO […]

Workers stand on a scaffold in Dubai. Building a high rise in the UAE can be as much as two thirds cheaper than in other major cities

Apartments in UAE among cheapest to build in the world

Building a standard residential high-rise in Dubai or Abu Dhabi is up to two-thirds cheaper than in other major global cities, thanks to land, labour and raw materials all costing much less. Land is up to three times cheaper in the UAE compared with the prices paid in New York, London, Hong Kong and Singapore […]