BOTAŞ and EGAS to enhance energy relations, LNG in spotlight

February 22, 2024, by Aida Čučuk

Turkish natural gas company BOTAŞ and Egyptian natural gas company EGAS have agreed to strengthen their energy relations, putting an emphasis on natural gas and LNG trading opportunities, cooperation on natural gas infrastructure and underground storage, as well as sharing technical information and experience.

According to BOTAŞ, the purpose of the agreement is to support the energy security of Türkiye and the region through the concrete steps to be taken in the forthcoming period by the parties on the issues discussed.

The company said that it continues to establish strong collaborations with energy partners in the region in line with the purpose of increasing the diversity of energy resources.

To note, BOTAŞ is involved in activities in a lot of spheres, from natural gas to oil, renewable energy, LNG and FSRU terminal operations, storage and port services.

In 2023, the company signed a binding term-sheet agreement with Oman LNG for the supply of 1 million metric tons per annum (mtpa) of LNG, as well as a 13-year agreement with Bulgaria’s state gas company Bulgargaz that grants the latter access to the gas transmission infrastructure of BOTAŞ and the use of five Turkish LNG terminals. Furthermore, it signed an LNG import agreement with Algeria’s national oil and gas company Sonatrach.