BOTAS and SOCAR Sign New Deals to Secure Gas Supply and Trade
Turkiye and Azerbaijan have extended their natural gas agreement, originally set to expire at the end of 2024, through to the end of 2030. This extension was formalized with the signing of agreements between BOTAS, Turkiye’s state-owned petroleum pipeline corporation, and Azerbaijan’s State Oil Company (SOCAR) along with the Azerbaijan Gas Supply Company.
The signing ceremony took place in Baku during the 29th International Caspian Oil & Gas Exhibition, with the presence of Turkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, and Azerbaijan’s Minister of Economy, Mikayil Jabbarov.
BOTAS Chairman and General Manager Abdulvahit Fidan and Azerbaijan Gas Supply Company General Manager Lidya Salahova signed the agreement extending the natural gas sales deal until the end of 2030. Additionally, Fidan signed a quadrilateral agreement with SOCAR President Rovshan Najaf concerning the delivery and trade of natural gas.
In a statement on his X account, Minister Bayraktar remarked:
“During our visit to Baku, we took significant steps to lay the groundwork for the Natural Gas Cooperation Agreement we signed with Azerbaijan’s Minister of Economy, Mr. Mikayil Jabbarov, last month in Istanbul. BOTAS and SOCAR have signed four agreements that will facilitate the transportation of gas through Turkiye to Europe and Nakhchivan, and introduce Turkmen gas to the market. Furthermore, the natural gas agreement between BOTAS and the Azerbaijan Gas Supply Company, which was set to expire this year, has been extended to 2030.”
These agreements are expected to enhance energy security and cooperation between the two countries, bolstering regional stability and energy supply diversification.
Source: Trthaber / Prepared by Irem Yildiz