Gazprom and a private Turkish company signed on Wednesday a contract to supply annually 500 million cubic meters of Russian natural gas to Turkey until 2021

Friday, June 5, 2020

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Russian energy giant Gazprom and a private Turkish company signed on Wednesday a contract to supply annually 500 million cubic meters of Russian natural gas to Turkey until 2021. Gazprom Export, the Russian gas monopoly's export arm, and Turkey's Avrasya Gaz A.S. signed the contract in Ankara. "The contract puts an end to the first stage of the transfer of state-owned company Botas' trading license rights to private companies as part of Turkey's gas market liberalization," Gazprom said in a statement. Turkey is the third-largest importer of Russian natural gas and a Gazprom key partner. Russia launched gas supplies to Turkey 20 years ago. Turkey imported 14.5 billion cubic meters of Russian natural gas in 2004, over 18 billion cubic meters in 2005, and around 20 billion cubic meters last year. "The index is expected to reach 23 billion cubic meters in 2007," Gazprom spokesman Sergei Kupriyanov said. In December 2004, Gazprom and Turkey's pipeline company Botas signed a memorandum to develop cooperation in the gas sphere. In line with the document, Gazprom can supply natural gas to Turkey directly or through subsidiaries to end consumers and take part in gas supply and distribution projects, as well as developing underground gas storage facilities and gas-fuelled facilities in Turkey. In November 2005, Botas announced a tender to transfer certain rights and commitments under the current 1998 contract to other companies as part of gas market liberalization. As a result, Botas shared the contract with Shell Energy A.S., Bosphorus Gas A.S., Enerco Enerji A.S. and Avrasya Gaz A.S. Under the contract, and an agreement signed between Gazprom and Botas, Avrasya Gaz A.S., a Turkish natural gas trader, will obtain Botas' rights and commitments on natural gas. Russia and Turkey are also involved in the construction of the 1,213 kilometers (754 miles) Blue Stream gas pipeline, which carries gas directly from Russia to Turkey via the Black Sea. By 2010, the pipeline is expected to reach full capacity, pumping 16 billion cubic meters of gas per year.

Print Gazprom and a private Turkish company signed on Wednesday a contract to supply annually 500 million cubic meters of Russian natural gas to Turkey until 2021

Bookmark Gazprom and a private Turkish company signed on Wednesday a contract to supply annually 500 million cubic meters of Russian natural gas to Turkey until 2021