April 28 (Reuters) – Turkey is in talks with U.S. energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas in an effort to reduce its dependence on Russian energy, the Financial Times reported on Sunday.
The country is trying to build a “new supply portfolio” that will make it less dependent on any single partner, Turkish Energy Minister Alparslan Bayraktar told the FT in an interview.
Turkey would secure up to 2.5 million tonnes of LNG per year through a long-term deal under discussion with Exxon, Bayraktar told the FT.
The pact could last a decade, he added.
Bayraktar said the commercial terms of the Exxon deal are still under discussion.
Turkey’s alleged deal with Exxon comes at a time when Russian exports to Europe are falling, as Europe increases its LNG purchases from global producers to reduce its imports of Russian pipeline gas in response to the conflict. in Ukraine.
Russian exports of liquefied natural gas (LNG) to Europe fell 1.9% to 15.8 million metric tons in 2023, according to LSEG data.
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.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Alexandra Hudson)
