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Turkiye, Azerbaijan extend key natural gas agreement until 2030

June 4, 2024 at 8:55 pm

Turkish Energy and Natural Resources Minister Alparslan Bayraktar (R) speaks during the Libya Energy and Economic Summit in Tripoli, Libya on January 13, 2024 [TUR Energy and Natural Res. Min. – Anadolu Agency]

Turkiye and Azerbaijan have extended an agreement to share and supply natural gas resources until the end of 2030, in the latest development in relations between the two Turkic nations.

At the beginning of the 29th International Caspian Oil & Gas Exhibition during Baku Energy Week in the Azerbaijani capital today, a deal on natural gas supply and exchange was signed by the Turkish Petroleum Pipeline Corporation (BOTAŞ), Azerbaijan’s state energy company, SOCAR, and Azerbaijan Gas Supply Company (AGSC).

With Turkish Energy and Natural Resources Minister, Aparslan Bayraktar, and Azerbaijani Economy Minister, Mikayil Jabbarov, present at the signing ceremony, it extended a key natural gas agreement which was previously set to expire at the end of this year. Under this new extension, the exchange and supply of natural gas stretching from Turkmenistan to Turkiye and up to Europe will now run until the end of this decade.

Speaking at the exhibition following the signing, Turkish Minister, Bayraktar, highlighted the importance of energy security and the strong regional cooperation necessary to achieve that, especially with the “abundant energy resources” the southern Caspian region possesses.

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“By working together and creating synergy, we can use these resources more effectively and ensure the benefits are widely shared,” he said. “The energy sector has been one of the cornerstones of our bilateral relations, exemplified by landmark projects such as the Baku-Tbilisi-Ceyhan Crude Oil Pipeline and the Trans-Anatolian Natural Gas Pipeline (TANAP), which are very important for the global oil market.” The shipment of gas to the Azeri exclave of Nakhchivan is also included in those key projects between Ankara and Baku.

During the signing ceremony, BOTAS and SOCAR also signed four agreements on the delivery and exchange of natural gas, with Bayraktar stating on X that those deals will ensure that “Azerbaijani gas will be transported to Europe and Nakhchivan via Turkiye and Turkmenistan gas will be delivered to our country”.

The Minister also delivered a message from Turkiye’s President, Recep Tayyip Erdogan, who said that the historic and growing cooperation between Ankara and Baku has not only benefited themselves, “but has also made significant contributions to the energy security of the region and Europe”.

He stressed that “it is now only a matter of time to transfer the gas produced in Turkmenistan to Turkiye and Europe with our joint efforts and to expand the capacity of TANAP”.