Turkey’s state gas company - Boru Hatlari ile Petrol Tasima (Botas) - has sealed a €925 million ($929 million) loan from Deutsche Bank to finance LNG purchases in a bid to reduce the country’s reliance on imports from Russia. The three-year loan allows Botas to buy LNG from pre-arranged suppliers in 10 countries, including the US, Algeria and Qatar. 

The financing is guaranteed by Turkey’s government and can be increased in the future.