Australian LNG deal marks latest step in Turkey's energy diversification push
Although Turkey does not have abundant oil and gas resources, Ankara wants to position itself as a regional gas hub linking Europe and Asia.
Turkish state energy company BOTAS and Australian natural gas producer Woodside have signed a long-term liquefied natural gas agreement to supply Turkey with over 0.5 million metric tons per annum as Ankara looks to shore up supplies of the supercooled fuel.
What happened: The agreement, announced in a statement by Woodside on Monday, will see the Australian firm supply BOTAS with approximately 5.8 billion cubic meters of natural gas equivalent over a period of up to nine years starting in 2030.
The deal is a conversion of the nonbinding agreement signed in September into a binding commitment, Woodside said.
Under the agreement, LNG will be supplied primarily from Woodside's under-construction Louisiana LNG project in the United States as well as from the Perth-based firm's broader portfolio, according to the statement. Woodside acquired the Louisiana LNG project in October 2024 from Houston-based Tellurian Inc. The project, which will see the construction of three liquefaction processing units with a capacity of 16.5 million metric tons per year, is expected to begin production in 2029.
