Turkey Extends Russian Gas Purchase Agreements for One Year

Turkey has extended its existing contracts for purchasing Russian gas for one year, with a total volume of 22 billion cubic meters, set to expire at the end of 2025. This announcement was made by Turkey’s Minister of Energy, Alparslan Bayraktar.

Ankara, which is the last major importer of Russian gas in Europe, has simultaneously signed several long-term contracts regarding liquefied natural gas (LNG) supply, banking on the anticipated surplus in global supply over the coming years. A significant portion of these new supplies is expected to come from the United States.

The state company BOTAS has officially extended the contract with Russia, Bayraktar stated. "Supplies from Gazprom will continue next year, but we are focusing on a shorter-term perspective of about one year," he added.

Turkey is also in negotiations with Iran regarding a 10 billion cubic meter gas import deal, which is set to expire in July 2026. The energy minister mentioned that discussions are ongoing regarding increasing volumes of Turkmen gas supplied via Iran.

Bayraktar pointed out that Turkey plans to invest in the gas extraction sector in the U.S. to fulfill its commitment to purchase up to 1,500 LNG cargoes from the United States over the next 15 years. "We are looking at the possibility of investing in the upper segments of the production chain in the U.S. market to strengthen our position and create a complete value chain," Bayraktar noted.

The state-owned TPAO is in talks with U.S. energy giants, including Chevron and Exxon, and the agreement could be signed as early as January.