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- October 13, 202618°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,195.90+0.13%
- INTEREST37.00%-1.00
- BITCOIN82,230-1.72%
- October 13, 202618°
Blue Stream and TurkStream Meeting between BOTAŞ and Gazprom
Discussions on extending Blue Stream and TurkStream contracts by 10 years between BOTAŞ and Gazprom Export, continuing with changes in volume and price structure...
In the negotiations between BOTAŞ and Russian energy giant Gazprom Export, the option to extend the Blue Stream and TurkStream natural gas contracts for another 10 years has come to the fore. A volume of 16 billion cubic meters is being discussed for Blue Stream, and 5.75 billion cubic meters for TurkStream.
It was reported that the continuation of the current pricing structure with some changes is also being considered. However, no definitive agreement has yet been reached regarding the potential gas volume and the duration of the contracts.
Highlights
- Contract renewal negotiations were held between BOTAŞ and Gazprom Export.
- The option to extend Blue Stream for 10 years with a volume of 16 billion cubic meters came to the fore.
- The option to extend TurkStream for 10 years with a volume of 5.75 billion cubic meters was discussed.
- The continuation of the current pricing structure with some changes was considered.
- It was stated that the negotiations could conclude by the end of summer.
Contract durations are expiring
Sources from the Ministry of Energy and Natural Resources indicated that the durations of the Blue Stream and TurkStream natural gas contracts are expiring. The same sources stated that contacts regarding the renewal process are continuing in Russia's St. Petersburg and Istanbul.
Energy and Natural Resources Minister Alparslan Bayraktar also recently stated that negotiations between BOTAŞ and Gazprom regarding the renewal of Blue Stream and TurkStream contracts are ongoing. Bayraktar expressed that there is not yet an agreement on the gas volume and contract duration.
Extension option on the table
It is reported that the option to continue the contracts for both pipelines for another 10 years has come to the fore in the negotiations. It is conveyed that the process could proceed with an annual volume of 16 billion cubic meters for Blue Stream and 5.75 billion cubic meters for TurkStream.
The option to continue with a revised current pricing structure is also being discussed. It is considered that the parties may reach a conclusion by the end of the summer season.
Blue Stream license extended by one year
BOTAŞ's license related to the Blue Stream natural gas contract was also recently extended by one year. Upon the institution's application, EPDK extended the license, which was set to expire on April 18, 2026, until April 18, 2027.
If an agreement is reached in the negotiations, it is expected that the license durations for both Blue Stream and TurkStream will be rearranged in accordance with the contract.
New license from Russia for LNG
BOTAŞ currently imports liquefied natural gas from Algeria and Oman and also purchases LNG from the spot market. It was stated that the company recently obtained a 10-year license to import LNG from Russia.
According to EPDK records, this license covers the period from April 2, 2026, to April 2, 2036. Industry officials consider that the agreement underlying this license may have been made with Russian Novatek and that shipments could be carried out via Yamal LNG.
Context: Blue Stream and TurkStream are among the important lines in Turkey's natural gas supply. Therefore, the duration, volume, and price structure of the contracts are closely monitored both for energy security and supply planning..
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