BAKU, Azerbaijan, May 5. Türkiye plans to increase exports of liquefied natural gas (LNG) to Europe, and is also ready to offer excess gas reserves from Russia and Azerbaijan to the European market, President of the Turkish Association of Natural Gas Distributors (GAZBIR) Yashar Arslan says, Trend reports.
Arslan noted that amendments to the mining law and other energy laws adopted by the Turkish Grand National Assembly on May 2, 2024 have opened up new opportunities for LNG trade with European countries, especially with neighboring countries. According to him, these legislative changes are aimed at developing the liquefied natural gas sector in Türkiye and its export.
He also noted the growing importance of LNG trade on world markets, especially in the European Union, due to the current situation in Ukraine.
Arslan said that 40% of European countries' annual demand for natural gas, which amounts to 450 billion cubic meters, is covered by LNG.
Türkiye imported 50.5 billion cubic meters of gas in 2024, 30% of which was LNG, according to the Energy Market Regulatory Authority.
Arslan noted that over the past 10 years, the share of LNG in gas imports to Türkiye has increased from 15% to 30%. In his opinion, this share could reach 40% thanks to investments in the global LNG sector in the coming years.