Ankara extends gas agreements with Moscow for one year

Turkey finalised a one-year extension of its two expiring gas import contracts with Russia that total 22 bcm, Turkish Energy Minister Alparslan Bayraktar said.

Turkey, one of Russia's major natural gas market in Europe, has been cutting the share of Russian supplies, but it still reaches nearly 40%.

Turkey's two contracts with Gazprom are due to expire at year end.

"They will continue to be supplied by Gazprom next year. But we are focusing on more like short term... like one year," Bayraktar said.

Ankara has also signed a series of deals to purchase long-duration liquefied natural gas (LNG), a big part of it from the United States, taking advantage of expected global LNG abundance over the next few years.