Shell to Supply LNG to Turkey, Strengthen Energy Security
SHELShell Global(SHEL) ZACKS·2024-09-04 21:35

Shell plc (SHEL) has signed a 10-year supply agreement for liquefied natural gas (LNG) with the Turkish stateowned energy firm BOTAS. Per the terms of the agreement, Shell will supply 4 billion cubic meters of LNG per annum to Turkey, starting 2027. The LNG supplied to Turkey will be sourced from the British energy major's U.S. and global energy assets. Before the discovery of the Sakarya gas field in the Black Sea, Turkey was heavily reliant on imported natural gas. Despite this discovery and increased cap ...