Looking to Europe, Turkey increases investment in Azeri gas

Turkey paid the French company $1.45 billion to increase its share in gas from Azerbaijan’s Shah Deniz-2 gas field from 9% to 19%.
Turkey's Energy Minister Taner Yildiz (L) shakes hands with his Azeri counterpart Natik Aliyev during a signing ceremony in Istanbul May 30, 2014. Turkey's state oil company TPAO signed a deal on Friday to acquire French energy company Total's 10 percent stake in Azerbaijan's Shah Deniz gas project, at a signing ceremony in Istanbul. The agreement increases TPAO's stake in the project to 19 percent from a previous 9 percent, while Total exits the project. Financial details of the agreement were not disclose
Turkish Energy Minister Taner Yildiz (L) shakes hands with Azeri counterpart Natik Aliyev during a signing ceremony in Istanbul, May 30, 2014. - REUTERS/Murad Sezer
mehmet cetingulec.jpg
Mehmet Cetingulec
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Turkey wants to free itself from foreign dependence on energy following the realization that the cost of energy was the main cause of the $65.1 billion deficit in 2013.

As of June, the current deficit is $52.176 billion, marking a $13 billion improvement.

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