Turkish state-owned crude oil and natural gas company, Botas, and Algerian National Oil Company, Sonatrach, have extended their existing gas supply contract for three years.
Under the deal, which was announced by Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar on 21 November, Turkey will continue to buy 4.4 billion cubic meters of Liquefied Natural Gas (LNG) from Algeria annually.
Due to expire in October 2024, the existing contract has been extended until 2027.
The agreement was signed during an official visit to Algiers by Turkey’s President Tayyip Erdogan.