Turkiye intends to extend natural gas purchase agreements with Russia, Azerbaijan, Iran

Turkiye intends to extend the contracts on the purchase of natural gas from Russia, Azerbaijan, and Iran, Energy Minister Fatih Donmez has said, Azernews reports, citing TASS.

“Our main suppliers are Russia, Azerbaijan, and Iran. We intend to extend our contracts with them for a new term. We are seeking to meet our energy needs,” he said.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP. Turkiye imports Azerbaijani natural gas through the South Caucasus Gas Pipeline (Baku-Tbilisi-Erzurum) and TANAP. Azerbaijan supplies gas to Turkiye only from the offshore Shah Deniz field.

In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.