Türkiye's state-run energy company BOTAŞ, Azerbaijan's SOCAR, TotalEnergies and ADNOC have signed a natural gas sales and purchase agreement for gas to be produced from Azerbaijan's Absheron field.
The agreement covers supplying Türkiye with a total of 33 billion cubic meters (bcm) of natural gas from Azerbaijan over 15 years, starting in 2029, according to the statement from the Energy and Natural Resources Ministry on Monday.
The step supports Türkiye's vision of becoming a central country in energy and aims to contribute to the energy supply security of the country, the region, and Europe, it added.
The deal was signed on the sidelines of Baku Energy Week, by SOCAR President Rovshan Najaf, BOTAŞ Chairperson and General Manager Abdulvahit Fidan, TotalEnergies senior vice president for exploration and production Europe Martino Panizzi, and Mohammed Al Aryani, President International Gas at XRG.
A final investment decision for the second phase of the Absheron project is expected this year. Annual gas production is expected to begin in 2029 and reach above 4 billion cubic metres, according to a Reuters report.
Around half of the production is expected to be supplied to the Turkish market under the agreement, a SOCAR official said.
The Absheron field is one of Azerbaijan's largest gas-condensate fields. The second development phase would boost Azerbaijan's gas export potential and contribute to regional energy security.
Baku Energy Week began with an opening address by Azerbaijani President Ilham Aliyev, while President Recep Tayyip Erdoğan also participated in the opening ceremony with a message.
Energy and Natural Resources Minister Alparslan Bayraktar was also in Azerbaijan as part of the energy week and a forum, and on Monday, he met counterparts and officials from other countries, such as Ukraine and Uzbekistan.
Türkiye and Azerbaijan enjoy close cooperation in energy through projects such as TANAP, while together with Georgia and Bulgaria, they are also working on a major green electricity transmission and trade project.
