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TURKEY: Turkey Expected to Sign Another Long-Term LNG Agreement This Week

TURKEY
  • Turkey is expected to sign another long-term LNG supply agreement this week during Energy Minister Alparslan Bayraktar’s visit to the US, Hurriyet report. Bayraktar said in an interview last week that a new long-term agreement would be signed, without providing details. However, some media outlets reported that Turkey will ink a long-term LNG deal with France’s TotalEnergies.
  • Bloomberg report that Egypt and Turkey are using their new-found friendship to try and resolve a power struggle in OPEC-member Libya, which is threatening to boil over into a civil war. Cairo and Ankara are pressing the North African country’s two competing governments to reach a deal that would help end a crippling oil blockade, according to officials and diplomats following the issue.
  • The Treasury & Finance Ministry will publish budget data for August at 09:00BST/11:00 local time. Looking ahead, the CBRT rate decision takes focus on Thursday, where the central bank is widely expected to keep its one-week repo rate unchanged at 50%. While headline CPI has declined sharply from the summer peak, much of the fall can be attributed to large and favourable base effects.
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  • Turkey is expected to sign another long-term LNG supply agreement this week during Energy Minister Alparslan Bayraktar’s visit to the US, Hurriyet report. Bayraktar said in an interview last week that a new long-term agreement would be signed, without providing details. However, some media outlets reported that Turkey will ink a long-term LNG deal with France’s TotalEnergies.
  • Bloomberg report that Egypt and Turkey are using their new-found friendship to try and resolve a power struggle in OPEC-member Libya, which is threatening to boil over into a civil war. Cairo and Ankara are pressing the North African country’s two competing governments to reach a deal that would help end a crippling oil blockade, according to officials and diplomats following the issue.
  • The Treasury & Finance Ministry will publish budget data for August at 09:00BST/11:00 local time. Looking ahead, the CBRT rate decision takes focus on Thursday, where the central bank is widely expected to keep its one-week repo rate unchanged at 50%. While headline CPI has declined sharply from the summer peak, much of the fall can be attributed to large and favourable base effects.