Yemisi Izuora
Turkey’s natural gas imports are projected to increase by 9.6 percent this year compared to last year, due to the country’s developing industry and increasing population.
The country imports liquefied natural gas from Nigeria and Algeria at an annual rate of 7.2 billion cubic meters outside Russia according to data from the state-owned Petroleum Pipeline Corporation of Turkey, BOTAS.
Turkey currently imports half of its gas from Russia and is the country’s second biggest gas client.
However, political tensions heightened between the two nations after the recent infringement on Turkey’s airspace by Russian warplanes as well as Moscow’s intervention in Syria, according to Turkish Weekly.
Russia’s Foreign Minister Sergei Lavrov said Wednesday Ankara will maintain its agreement with Moscow on the construction of a massive new gas pipeline dubbed the Turkish Stream, which would transmit Russian gas to Europe while bypassing Ukraine.
Construction was expected to begin in June but the two countries have not yet signed a formal agreement, according to Sputnik News.
Meanwhile Nigeria which is Turkey’s top trading partner in sub-Saharan Africa has reported that the trade volume between the two countries has hit $2.5 billion.
Turkey imports liquefied natural gas from Nigeria and Algeria at an annual rate of 7.2 billion cubic meters.
Trade volume between Turkey and Nigeria has reached $2.5 billion, and there are efforts to increase investment, Turkish Ambassador to Nigeria Hakan Cakil said Thursday.
Speaking at a business forum organized by the Abuja Chamber of Commerce and Industry, the Turkish envoy said his country aims to support business opportunities for both countries.
“We have strong relationship with Nigeria; we have economic ties in the commercial field. We shall do our best to enhance the business opportunity in Nigeria,” Cakil said at the forum.
“We have to let the businessmen meet to interact and share ideas. We have to find business opportunities in two countries. Total trade volume between the two countries as of December 2014 was $2.5 billion; the bilateral trade relationship is in favor of Nigeria because we are importing crude oil and other mining products.”
Cakil’s comments came after the fate of the natural gas trade between Turkey and Russia was called into question.
Nigeria is Turkey’s top trading partner in sub-Saharan Africa. John Chukwu, the permanent secretary of Nigeria’s Ministry of Federal Capital Territory, said at the business forum.