Turkey's Botaş extends Gazprom contract for another year

Turkey’s state energy company Botas has renewed its contract with Gazprom for one year, Turkish Energy Minister Alparslan Bayraktar said.

According to him, the contract with Gazprom is for 21.75 billion cubic meters (bcm) of pipeline gas from TurkStream and Blue Stream.

"Thus, there is no threat to Turkey in terms of supply security. I hope this gas will be purchased by Botas and delivered to Turkey," Alparslan Bayraktar said.

According to the minister, Ankara needs to reach a point where sellers offer a more competitive price to the Turkish market.

He added that besides Botas, private Turkish companies purchase gas from Russia. Their contracts have not yet expired, with the earliest set to end around 2033, and some running until 2040. Bayraktar said there are no legal barriers for the private sector to enter such contracts, but competitive pricing is crucial.