The transfer of liquefied natural gas from Qatar to Turkey depends on both countries' technical capabilities, the Qatari Ambassador to Ankara said on Friday.
Qatar and Turkey signed a memorandum of understanding on Dec. 2 for long term liquefied natural gas (LNG) trade between the two countries.
Over the last few years, Turkey has procured LNG from Qatar through the spot market. Qatar sent at least 9 LNG spot cargoes of 1.2 billion cubic meters each to aid Turkey's total LNG consumption of 55 billion cubic meters.
Qatari Ambassador to Ankara Salem Mubarak Al-Shafi told Anadolu Agency that Qatar is happy to trade with Turkey, but asserted that it is too early to ascertain LNG quantities and when exports will begin from the contract.
"The amount of LNG to be supplied is not specified at present and the details will be stated in the long-term agreement. The two parties are due to prepare the long-term technical details at a later date," he added.
Commenting on recent fluctuating oil prices, Al-Shafi said that Qatar wants higher oil prices, but urged for producers to take responsibility in freezing output to balance the market.
In addition he added that there would be no problem regarding Iran's return to the market post sanctions with increased oil production.
Currently, Brent oil is traded at $40.44 per barrel, according to official figures.
Since 2014, the price has been fluctuating greatly due to over supply in the global market.
- Qatar and Turkey aim to double their trade volume
Al-Shafi said that based on their historic trustworthy relations, bilateral trade can be doubled, which in 2014 was around $1.3 billion and around $1 billion in 2015.
"Qatar's support for Turkey is evident not only in energy but also in other fields," he said and cited Turkey-Qatar High Strategic Committee’s first meeting in the Qatari capital of Doha where both countries signed 15 bilateral agreements.
The visa-free agreement for both countries' citizens and the LNG transfer agreement from Qatar to Turkey were the 16th and 17th agreements respectively signed in December during Turkey's President Recep Tayyip Erdogan visit to the country.
Furthermore, Al-Shafi said that Turkish and Qatari armies conducted their first joint military drill.
"Some of our soldiers, who will be deployed at a military base to be established in Qatar, have started their duties," he added.
Turkey and Qatar agreed on Dec. 2 to cooperate in several sectors, including education, environment, science and technology, maritime and energy, Al-Shafi added.
Turkish investments in Qatar are focused mainly in the construction sector and consultancy services. The total amount of projects undertaken by more than 60 Turkish companies, among which are leading companies, reached approximately $13.5 billion.