Turkey signs agreement to buy LNG with Qatar

Turkish state-owned pipeline company BOTAS signs extensive agreement with Qatar’s national oil corporation to buy LNG from gas-rich Gulf country

Photo by: AA
Photo by: AA

Turkish and Qatari officials sign extensive agreement concerning LNG supply in Doha, Qatar on Dec. 2, 2015.

Turkey's Petroleum Pipeline Corporation (BOTAS) and Qatar's national oil company signed a memorandum of understanding for long-term liquified natural gas (LNG) provision on Wednesday.

According to Turkey's Energy and Natural Resources Ministry, the agreement calls for the regular supply of LNG by Qatar.

Turkey's total LNG consumption is 55 billion cubic meters. The country imports 8.4 percent of its LNG from Algeria and 2.8 percent from Nigeria.

The amount of LNG to be supplied is not specified at present and the details will be stated in the long-term agreement. The two parties are due to prepare the details of the long-term agreement at a later date.

Qatar led the world once again last year in LNG exports, according to the 2015 World LNG Report published Tuesday by the International Gas Union.

For the ninth year in a row, Qatar became the largest LNG exporter in the world with 76.8 million tons of LNG in 2014.

Qatar's LNG exports also constituted around one-third of the total 241.1 million tons of LNG supplies in 2014, the report said.

The share of Qatar’s LNG exports to Asia is near 70 percent. Japan, India, South Korea and China are among the main importers of Qatar’s LNG.