Turkey is not only signing a flurry of multi-year LNG deals with multiple suppliers but is also looking to boost domestic production in a move that could see Russia and Iran lose one of their biggest natural gas and crude customers in a few short years. Turkey is Russia's last big market in Europe after the rest of the continent largely abandoned Russian gas in favor of pipeline gas from Norway and LNG from the United States. Turkey has been buying up to two-thirds of its oil imports from Russia at deep discounts of up to 15% since the war in Ukraine began, saving the country billions of dollars in import bills and helping ease inflation.
Author: Alex Kimani
Published at: 2025-10-12 23:00:00
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