Bloomberg: Turkey Eyes New Energy Deals With U.S. Amid Strategic Rebalancing

Ankara seeks closer energy and diplomatic ties with Washington, plans LNG purchases and nuclear cooperation while managing its delicate balancing act between the U.S. and Russia.

Turkey is preparing to sign a series of new energy agreements with the United States as early as next week, in a move aimed at deepening its economic and diplomatic ties with Washington across sectors ranging from commodities to defense.

According to sources familiar with the matter, who spoke on condition of anonymity, the upcoming deals are expected to include commitments to purchase additional volumes of U.S. liquefied natural gas (LNG). The Turkish Ministry of Energy declined to comment on the matter.

The initiative aligns with Ankara’s broader effort to reset its relationship with the U.S., following years of friction over its acquisition of Russian S-400 missile systems and divergent policies in the Syrian conflict.

Erdoğan Seeks Trump Meeting in New York

President Recep Tayyip Erdoğan is also reportedly pursuing a bilateral meeting with U.S. President Donald Trump on the sidelines of the United Nations General Assembly in New York next week. The meeting would mark a high-profile opportunity for both leaders to showcase renewed cooperation amid rising global energy and geopolitical tensions.

This diplomatic overture follows Trump’s increased pressure on NATO allies — including Turkey — to reduce their dependency on Russian oil and gas. Despite this, Turkey has emerged as one of the largest buyers of Russian crude, while simultaneously supplying Ukraine with drones and munitions. Ankara has so far refrained from imposing sanctions on Russia, positioning itself instead as a potential mediator in the ongoing war.

Balancing Russia and the U.S. in Energy Policy

Turkey’s current energy policy mirrors its broader geopolitical balancing act. While Russia remained its largest gas supplier in 2024 — accounting for roughly 41% of total imports, according to Turkish regulatory data — the United States has become Turkey’s top source of LNG delivered by sea.

U.S. LNG volumes to Turkey nearly doubled between 2020 and 2024, and are expected to rise further following a flurry of agreements signed at a major industry conference last week. During the event, Turkish Energy Minister Alparslan Bayraktar held high-level talks with American energy giants ConocoPhillips and Chevron regarding long-term LNG cooperation.

Nuclear Cooperation Also on the Table

While Russia is constructing Turkey’s first major nuclear power plant at Akkuyu, Turkish officials are actively courting U.S. investment in next-generation nuclear technologies — particularly small modular reactors (SMRs). These reactors are faster to build and more flexible in deployment compared to traditional nuclear plants, although they remain in limited commercial use globally.

By diversifying its energy partnerships, Ankara aims to reduce its overdependence on a single supplier while enhancing energy security and geopolitical leverage.