Turkey Eyes US Gas Field Investments After Wave of LNG Deals

Turkey is exploring investments in US oil and gas fields as it accelerates a sweeping overhaul of its energy portfolio that’s so far been built around American LNG.

Turkish Petroleum Corp. is in talks with Chevron Corp., Exxon Mobil Corp. and other US majors to take positions in upstream assets, as part of Turkey’s plan to expand from its growing exposure to liquefied natural gas, the country’s Energy Minister Alparslan Bayraktar said Wednesday on the sidelines of the World LNG summit in Istanbul. Announcements might come as early as next month, he said.