Turkiye to Invest in U.S. Gas as It Expands LNG Supply and Diversification Efforts

SEATTLE (Oil Monster):Turkiye plans to invest directly in U.S. gas production as part of a broader strategy to diversify its energy sources, Energy Minister Alparslan Bayraktar said on Wednesday. 

The move aims to strengthen the country’s LNG supply chain as it commits to purchasing up to 1,500 U.S. LNG cargoes over the next 15 years. State energy company TPAO is currently in talks with Chevron and Exxon, with a potential agreement expected soon.

Ankara has also extended two natural gas import contracts with Russia—totalling 22 bcm—for one more year, as it continues to reduce reliance on Russian supplies, now representing less than 40% of Turkiye’s gas mix. The government is prioritizing shorter-term supply deals while expanding its LNG portfolio.

Turkiye is also negotiating a renewal of its 10 bcm gas contract with Iran, including plans to raise the volume of Turkmen gas transported through Iran under existing swap arrangements.

To scale up LNG import capacity, Turkiye plans to add two new FSRUs to its existing three, potentially chartering them to other countries later. Additionally, BOTAS signed new LNG supply agreements with German and Italian companies, with deliveries set to begin in 2028.

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