Turkey extends its Russian gas contracts for one more year—22 billion cubic meters through 2026—while moving forward with upstream investments in US natural gas production.
As a pending BRICS partner, Ankara is walking a tightrope: it remains Russia’s last major European gas buyer but has slashed Russian gas to under 40% of its mix. The US now supplies 14% of Turkey’s gas, making it the fourth-largest source, backed by a 15-year LNG deal for up to 1,500 cargoes.
State firm TPAO is in talks with Chevron and ExxonMobil to invest directly in American production, aiming to secure supply and influence pricing. Meanwhile, Turkey is negotiating new imports from Iran and Turkmenistan.
How should the BRICS bloc view Turkey’s dual-energy strategy as it seeks closer ties with the group?