Turkey is looking to extend its liquefied natural gas (LNG) agreement with Algeria ahead of its expiry in September 2027, Energy Minister Alparslan Bayraktar said, adding that some of the gas could potentially be transported to southeastern Europe.
Turkish state energy company Botas and Algerian state oil and gas company Sonatrach first signed a gas supply contract in 1988, and it has been extended repeatedly since.
"We hope to finalise a new agreement this year. Our current agreement expires in September 2027, so we aim to renew it," Bayraktar told reporters after the Turkish and Algerian leaders met in Ankara on Thursday.
After the LNG is brought to Turkey some of it could be processed in Turkish facilities and transported to Europe, particularly via Bulgaria, Bayraktar said.
"We currently have an annual agreement for 4.4 billion cubic metres. We can increase that to 6 to 6.5 billion cubic metres," he said, adding that the agreement period could be extended to 5 years to 10 years.
Another item on the agenda in the Ankara talks was collaboration between Turkish Petroleum and Sonatrach in oil and natural gas exploration in Algerian waters, Bayraktar said.
(Reuters - Reporting by Huseyin Hayatsever; Writing by Daren Butler; Editing by Kate Mayberry)