Turkey Replaces Russian Gas with American LNG

Turkey is in talks with American energy giant ExxonMobil regarding a multibillion-dollar liquid natural gas (LNG) deal, aiming to reduce its dependence on Russian energy resources, reports the Financial Times.

In an interview with the publication, Turkey's Energy Minister Alparslan Bayraktar stated that the country aims to create a "new supply portfolio" that would allow it to rely less on any single partner.

Bayraktar also noted that under the discussed long-term agreement with the American company, Turkey could receive up to 2.5 million tons of liquid natural gas annually. The agreement could last for ten years, he added. The commercial terms of the deal with Exxon are still in the negotiation phase.