Turkey looks towards ExxonMobile for multibillion-dollar LNG Turkey is in discussions with US energy giant ExxonMobil regarding a multibillion-dollar deal to buy liquefied natural gas.
In an interview with the Financial Times, Turkish energy minister Alparslan Bayraktar said that his country was hoping to diversify its energy providers, therefore bolstering national security.
As part of the proposed deal, Turkey would secure up to 2.5 million tonnes of LNG a year from Exxon, at a cost of around $1.1 billion.
The agreement could last a decade, although the exact conditions were yet to be determined, Bayraktar said.
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Talks between Exxon and Turkey come at a time when the country is seeking to reduce its reliance on Russian energy.
Natural gas is essential for electricity generation in Turkey and, in 2022, the country imported 100% of the gas it consumed.