Turkey, U.S. Launch New Energy Era with LNG, Nuclear Deals
Turkey and the United States have initiated a new era of energy collaboration, aiming to fortify Turkey's power supply security and regional influence. The two nations have inked agreements covering Liquefied Natural Gas (LNG) and nuclear energy, with an emphasis on small modular reactors (SMRs).
The energy alliance was launched with the signing of a Strategic Civil Nuclear Cooperation Memorandum of Understanding between Turkey's Energy and Natural Resources Minister Alparslan Bayraktar and U.S. Secretary of State Marco Rubio. This memorandum paves the way for cooperation on the construction of nuclear power plants in Turkey, encompassing all aspects of civil nuclear activity.
In the LNG sector, Turkey has secured a long-term supply agreement with U.S. trading company Mercuria. The 20-year contract, signed by state company BOTAŞ, ensures an annual supply of approximately 4 billion cubic meters, totaling 70 billion cubic meters over the contract period (2026-2045). This deal significantly contributes to Turkey's goal of becoming an energy hub and enhances its power supply security.
The two countries are also exploring the development of SMRs, which are praised for their lower costs, flexibility, and enhanced safety compared to traditional nuclear plants. A legislative proposal on SMRs is expected to be submitted to the Turkish Grand National Assembly in the new parliamentary term, facilitating investments through intergovernmental agreements and private sector participation.
With these agreements, Turkey and the United States have bolstered their energy partnership, with Turkey aiming to secure its power supply and emerge as a regional energy hub. The cooperation in LNG and nuclear energy, particularly SMRs, is set to bring significant benefits to both nations.
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