Turkey Agrees to Extend Algerian Natural Gas Deal From 2014

Turkey reached an agreement with Algeria to buy 4 billion cubic meters of natural gas over 10 years starting 2014, Energy Minister Taner Yildiz said.

Turkey is buying 4.4 bcm of gas from Algeria under its current contract which ends Oct. 1, 2014, Yildiz said today on a flight to Algeria. Turkey may buy as much as 6 bcm if Algerian production increases, Oil Minister Youcef Yousfi said during a press conference with Yildiz in Algiers.

Turkey plans to buy at least two extra liquefied natural gas cargoes from Algeria and two or three cargoes from Qatar in January and February to cope with increased demand in winter, Yildiz said.

To contact the reporter on this story: Selcan Hacaoglu in Ankara at shacaoglu@bloomberg.net

To contact the editor responsible for this story: Selcuk Gokoluk at sgokoluk@bloomberg.net

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