Turkey and the Russian Federation have begun negotiations on continuing cooperation in the field of natural gas supplies after 2026, when the current contracts expire. This was reported by Bloomberg, according to UNN.
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According to Turkish Energy Minister Alparslan Bayraktar, the state-owned company Botas is in talks with Russia's Gazprom regarding the renewal of gas import agreements. Currently, the parties have not yet agreed on future supply volumes or the terms of the new contracts.
Last December, Ankara already extended two agreements with Gazprom for fuel supplies via the TurkStream and Blue Stream pipelines, which remain key routes for transporting Russian gas to Turkey.
Turkey remains one of Gazprom's main customers
Following the reduction of exports to Europe due to the Russian Federation's full-scale invasion of Ukraine, Turkey has become the second-largest market for the Russian gas monopolist after China.
Negotiations for new contracts could be of significant importance for Russia, which has lost most of its European buyers, as well as for Turkey, which continues to be one of the largest consumers of Russian natural gas.
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