Turkey and Shell Sign 10-Year LNG Deal for 4 bcm/year from 2027

Sep 2, 2024, 12:39 PM

Turkey has signed a 10-year liquefied natural gas (LNG) supply agreement with Shell, marking a significant step in its ambition to become a regional gas hub. The deal, formalized in Ankara, involves the supply of 4 billion cubic meters (bcm) of LNG per year starting from 2027. This volume represents approximately 8% of Turkey's total gas demand. The contract also includes provisions for redirecting shipments to European terminals, aligning with Turkey's strategy to re-export LNG to Europe and the Balkans. The agreement underscores Turkey's efforts to diversify its energy sources and strengthen its role in the regional energy market.