Business · Energy & Commodities · 8 hrs ago
Novatek in talks to supply LNG to Turkey
Novatek is discussing LNG supplies to Turkey, its CEO Leonid Mikhelson said at a forum in Verona.
The talks are still at the discussion stage, and no agreement was announced.
LNG is natural gas cooled into liquid form for transport by ship.
Mikhelson urged Turkey to sign long-term supply contracts, rather than rely on purchases linked to changing spot-market prices.
He said those spot-linked deals have created extra costs for the Turkish economy, although Turkey has not faced a shortage of physical supplies.
The talks matter because contract terms could affect Turkey's energy costs and security.
No next step or date for a decision was given.
Novatek is holding talks on liquefied natural gas supplies to Turkey, CEO Leonid Mikhelson said.
Mikhelson said the discussions were still at an early stage.
He urged Turkey to sign long-term LNG supply contracts, citing the costs linked to spot-market prices.
He said the comments at the Verona Eurasian Economic Forum, where he spoke to reporters on the sidelines.
- Who
- Novatek and Turkey. Novatek CEO Leonid Mikhelson discussed the talks.
- What
- The parties are discussing LNG supplies to Turkey.
- When
- October 22, 2026. Mikhelson said the talks were still at the discussion stage.
- Where
- The Verona Eurasian Economic Forum in Istanbul.
- Why
- Mikhelson urged Turkey to pursue long-term supply contracts, saying spot-linked prices had brought additional costs to the Turkish economy.
This story does not have two clearly opposing sides.
Mikhelson urged Turkey to sign long-term LNG supply contracts.
Mikhelson told reporters that Novatek was holding talks on LNG supplies to Turkey.
- Company
- Novatek
- CEO
- Leonid Mikhelson
- Proposed supply
- Liquefied natural gas (LNG)
- Destination
- Turkey
- Talks status
- Discussion stage
- Forum
- Verona Eurasian Economic Forum
What people are saying
So far, everything is still at the discussion stage
I am confident that this is particularly relevant for Turkey right now