Turkiye is ready to export excess gas reserves from Russia and Azerbaijan

By Nazrin Abdul

Turkey plans to increase exports of liquefied natural gas (LNG) to Europe, and is also ready to introduce excess gas reserves from Russia and Azerbaijan to the European market, Azernews reports citing the President of the Natural Gas Distributors Union of Turkiye (GAZBIR) Yashar Arslan.

Y. Arslan noted that the law on the mining industry adopted by the Grand National Assembly of Turkiye on May 2, 2024 and the changes made to other energy laws have opened up new opportunities for LNG trade with European countries, especially neighboring countries.

According to him, these legislative changes are aimed at the development of the liquefied natural gas sector in Turkiye and its export.

He also noted the growing importance of LNG trade in world markets, especially in the European Union, due to the current situation in Ukraine.

Y. Arslan said that 40 percent of European countries' annual demand for 450 billion cubic meters of natural gas is met by LNG.

Referring to the indicators of the Energy Market Regulatory Authority, he said that Turkey imported 50.5 billion cubic meters in 2024. m of gas, 30% of which was LNG.

Y. Arslan noted that the share of LNG in gas imports to Turkiye has increased from 15 percent to 30 percent in the last 10 years. According to him, this share may reach 40 percent in the coming years thanks to investments in the global LNG sector.