Executive Summary:
- In mid-February, Türkiye and Turkmenistan signed an agreement facilitating the flow of natural gas through Iran, a step to enhance Türkiye’s energy security and diversify its supply.
- Iran’s infrastructure technical issues and the increased likelihood of U.S. sanctions could cause supply disruptions, as has occurred in the past.
- Türkiye aims to establish itself as a key energy trade hub and create additional export routes, while Turkmenistan can export more gas through new routes, particularly to Europe.
On February 14, Türkiye’s Energy Minister, Alparaslan Bayraktar, announced that a new energy agreement was signed with Turkmenistan, strengthening the bilateral relations between Ankara and Ashgabat. The main stakeholders of the agreement are Türkiye’s state-owned pipeline operator BOTAŞ and Turkmenistan’s state-owned Turkmengaz. The new agreement envisages 2 billion cubic meters (bcm) of natural gas flow from Turkmenistan to Türkiye through Iran via its existing natural gas network, which began on March 1 (Caspian Post, February 14; Anadolu Ajansı, March 2). The new swap agreement is a remarkable milestone in enhancing Türkiye’s energy security and attempts to diversify its supply sources.