Turkey negotiating natural gas contracts with the United States – report

The Turkish authorities are negotiating contracts for liquefied natural gas (LNG) with U.S. counterparts, the Dünya newspaper reported on Tuesday.

Russia has yet to threaten Turkey with a cut in supplies of natural gas, but excessive consumption during last winter raises the spectre of possible shortages, Dünya said.

Negotiations with the United States continued, including the possibility of Treasury guarantees, the newspaper said. The talks are occurring as Europe faces gas shortages.

Natural gas prices in Turkey have been subsidised by the state, which meets the cost through government borrowing. As of the end of July, debts given to pipeline company and gas importer BOTAŞ stood at 70.9 billion liras ($3.9 billion), Dünya reported.

Turkey has signed a series of LNG purchase agreements with U.S.-based firms as it switched away from natural gas supplied from other sources. The firms supplied about 17.4 percent of Turkey’s gas imports between October and January, according to an April report on the Al-Monitor news website. That put it ahead of Azerbaijan and Iran in natural gas provision, ranking it second to Russia.

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