Turkey's Botas buying 4 bcm of LNG from Shell in 10-year Deal
09.03.2024 By Tank Terminals - NEWS

September 03, 2024 [Reuters]- Turkish state energy company Botas and British oil major Shell signed a 10-year LNG agreement on Monday, the Turkish Energy Minister Alparslan Bayraktar said.

 

“A total of 40 LNG cargoes of approximately 4 billion cubic meters will be delivered annually for a period covering 10 years starting from 2027,” Bayraktar said.

“This agreement … provides additional regional and global trade opportunities with the options of receiving (LNG) from the filling port and unloading to European terminals.”

Speaking in the ceremony, Bayraktar said the deal has strengthened Turkey’s prospects of becoming a natural gas centre and its role in playing a part in Europe’s supply security.

Botas signed a 10-year LNG agreement with ExxonMobil in May, under which Botas will purchase up to 2.5 million tons of LNG per year from the U.S. company.

Turkey meets almost all of its consumption needs with imported gas and brought in 14.3 billion cubic metres (bcm), or 28.3% of the 50.5 bcm that it consumed last year, in the form of LNG.

Turkey has the supply flexibility to a large part of national consumption needs with liquefied gas instead of pipeline gas if needed, with a gasification capacity of approximately 0.16 bcm per day, according to Reuters calculations.

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Qair to Install e-Methanol Plant at France's Le Havre Port
11.12.2024 - NEWS
November 12, 2024 [Renewables Now]- French independent renewable power producer Qair has won the ... Read More
COP29 - Indonesia to Host World's First Hybrid Green Ammonia Project
11.12.2024 - NEWS
November 12, 2024 [Antara News]- PT Pupuk Indonesia announced its Green Ammonia Initiative from A... Read More
Saudi Arabia Bets $10B on Green Hydrogen
11.12.2024 - NEWS
November 12, 2024 [Oil Price]- Saudi Arabia is reportedly preparing to unleash $10 billion in inv... Read More
Genzero and Trafigura Announce US$100M Expansion of the Brujula Verde Nature-Based Carbon Removals Project in Colombi
11.12.2024 - NEWS
November 12, 2024 [Storage Terminals Magazine]- Trafigura Group Pte Ltd, a leader in the global c... Read More