World Bulletin/News Desk
Turkey will increase gas imports from Algerian under the terms of a renewed gas trade agreement signed in Algiers on Wednesday.
Under the terms of the new contract, which will run for ten years, Turkey will import 4.4 billion cubic meters of liquefied natural gas per year from Algeria, up from 4 billion per year under the previous contract.
The increase will slightly raise Algerian imports' share in Turkey's total energy mix, which has been nine percent previously.
Turkish Energy Minister Taner Yildiz signed a joint declaration on cooperation in energy with Algeria’s Minister of Energy, Youcef Yousfi. Turkish President Recep Tayyip Erdogan also attended the ceremony.
Turkey has imported 4 billion cubic meters of liquefied natural gas, or LNG, every year from Algeria since 1988. The contract was set to expire by the end of this year.
The declaration also plans cooperation in different fields of the energy sector between two countries, according to Energy Ministry officials.
Turkey and Algeria will develop new projects on natural gas exploration and production, collaborate on renewables, with a priority for solar energy, and cooperate in electricity transmission and system operations, the agreement says.Last Mod: 20 Kasım 2014, 00:01