Russian gas export company Gazprom Export and its main partner in Turkey, Turkish BOTAS, signed at the end of 2021 a package of agreements on their cooperation for the supply of Russian gas and the use of gas transmission infrastructure, its subsidiary announced. Gazprom.
In particular, the new contract for the supply of Russian gas to BOTAS from January 1, 2022 provides for the export of up to 5.75 billion cubic meters of natural gas per year through the Turkish Stream pipeline for 4 years. The new agreement replaces the previous contract, which provided for the provision of up to 4 billion cubic meters per year.
Gazprom supplied a total of about 27 billion cubic meters of gas to Turkey in 2021, two-thirds more than in 2020, but as consumption in the country continues to grow, by 2021 it was expected to reach an estimated record volume of 60 billion cubic meters. , according to the Russian news agency “Interfax”.
Some of the volumes previously purchased by BOTAS have been resold to private importers, while the Russian side has not yet announced the extension or conclusion of new contracts with independent buyers in Turkey, according to the same agency, which notes that in the last 20 years Turkey has begun to liberalize the gas market, so most of BOTAS international contracts are outsourced to private importers. However, in 2016, the external management of these companies was introduced by the State Deposit Insurance Fund (TMSF), which is essentially equivalent to their nationalization.
In 2015, Gazprom offered a 10.25% discount to private Turkish companies, but a year later demanded its cancellation. As of January 1, 2017, the arbitral tribunals annulled the discounts for Akfel Gaz, Bat Hatt, Kibar Enerji, Avrasya Gaz and Enerco Enerji. The courts overturned the rebates for private traders, with the result that non-compliance or difficulties in enforcing arbitral awards restricted Russian gas exports to Turkey.
SOURCE: ΑΠΕ-ΜΠΕ
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Source From: Capital

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