Turkey and Azerbaijan have signed a new long-term agreement for the annual supply of 2.25 billion cubic meters of natural gas from the Absheron field in the Caspian Sea. The total supply volume under the 15-year contract will exceed 33 billion cubic meters of blue fuel.
This is reported by Finway
Key Terms of the Gas Agreement
As reported by Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar, the new contract will take effect in 2029 and will last until the early 2040s. Under the terms of the agreement, gas will be transported to Turkey via the Baku-Tbilisi-Erzurum pipeline, which is already operational and has the necessary infrastructure to ensure stable energy resource supply.
“We have signed a new agreement with Azerbaijan for 33 billion cubic meters of natural gas,” Bayraktar stated.
Strengthening Turkey’s Energy Security
The minister emphasized that entering into such long-term contracts is a crucial part of the country’s energy diversification strategy. With these agreements, Turkey ensures the stability of its energy supply and the ability to obtain natural gas on competitive terms. This will allow the country not only to meet its own needs but also to strengthen its role in the transit of energy resources in the region.