Türkiye Azerbaijan Ink Long-Term Deal for Gas Supply from Absheron Field

Türkiye and Azerbaijan have signed a new natural gas agreement worth 33 billion cubic meters, announced Türkiye's Minister of Energy and Natural Resources, Alparslan Bayraktar, The Caspian Post informs.

According to the agreement, 2.25 billion cubic meters of gas will be supplied annually from the Absheron field in the Caspian Sea for 15 years.

Bayraktar stated that the contract will begin in 2029 and continue through the 2040s. He emphasized that the gas will be delivered to Türkiye through the existing Baku-Tbilisi-Erzurum pipeline.

He further noted that with long-term contracts and a diversification strategy, Türkiye ensures energy security and will continue to regulate fuel prices at a competitive level.

According to the Energy Market Regulatory Authority of Türkiye (EMRA), in January-October of last year, Azerbaijan exported 9.8 billion cubic meters of natural gas to Türkiye, 3.5% more than the indicator for the same period in 2024.

Currently, Azerbaijan is the second country exporting natural gas to Türkiye after Russia.

According to EMRA, Azerbaijan exported 11.48 billion cubic meters of gas to Türkiye in 2024 (11.9% more than in 2023).