Turkey Negotiates $1.1 Billion LNG Deal with ExxonMobil to Reduce Russian Energy Dependence

Apr 28, 2024, 11:00 AM

Turkey is currently in negotiations with ExxonMobil regarding a significant liquefied natural gas (LNG) deal valued at approximately $1.1 billion. The deal involves the purchase of 2.5 million tonnes of LNG, which would account for about 7% of Turkey's annual natural gas consumption. This strategic move is aimed at reducing Turkey's reliance on Russian energy sources. The potential agreement, which could span a decade, was confirmed by Turkish Energy Minister Bayraktar.