Gazprom Signed New Deal to Supply Turkish Companies with Natural Gas for 30 Years

[Seabastian.Smith]

Gazprom clinched a long-term deal on Monday to export natural gas to private companies in Turkey, securing a growing market for the Russian gas export monopoly as it faces declines from its core consumers in the European Union.

Turkey's energy market regulatory authority gave private energy companies Akfel, Bosphorus and Kibar licences to import gas from Russia's Western Line over 30 years.

The four companies had previously agreed with Gazprom to import 6 bcm of natural gas a year on the Western line, which runs through Ukraine, Romania and Bulgaria to Turkey, with an annual capacity of 14 bcm.
"The deal is very important for Gazprom. Turkey has always been a significant and stable partner for us," an official for Gazprom Export, the company's export arm, told Reuters.

[Tom Hitchcock]

Gazprom will soon start the construction of the South Stream natural gas pipeline which will increase its control over Europe. It seems that it really is doing all it can to dominate Europe's natural gas market.