Turkey to Slash Russian Gas Reliance by 2028, Boosting US LNG Imports
Turkey is set to significantly reduce its reliance on Russian gas, potentially depriving Russia of a major European energy market. This shift comes as Turkey aims to meet over half of its natural gas demand domestically and through increased imports of American LNG by 2028.
Russia currently supplies 37 percent of Turkey's gas, a significant drop from over 60 percent two decades ago. By 2028, Turkey's domestic production and contracted LNG imports are expected to exceed 26 billion cubic meters per year, covering more than half of its annual gas demand.
Turkey has signed LNG import deals with American suppliers worth $43 billion, including a 20-year agreement with Mercuria. US President Donald Trump has encouraged Turkish President Recep Tayyip Erdogan to reduce purchases of Russian fuel. Despite this, Turkey is likely to renew some long-term gas supply contracts with Russia, Iran, and Azerbaijan, but will seek smaller volumes and more flexible terms to diversify its energy supply.
Turkey's Energy Minister Alparslan Bayraktar has stated that Turkey must source gas from all available suppliers, including Russia, Iran, and Azerbaijan, but acknowledged that American LNG offers a cheaper alternative. Ankara aims to strengthen its energy security and position itself as a regional gas hub by exporting domestically produced gas and re-exporting American LNG to Europe.
