Turkey natural gas imports from the eastern neighboring country Iran and its ally Russia declined by 44.8% and 41.5%, respectively in the very first half of 2020 compared to the exact same duration of 2019.
Ankara’s natural gas imports in the January-June duration of 2020 fell by 3.5% to 22.5 billion cubic meters (bcm), according to Energy Market Regulatory information assembled by Anadolu Company on August 24. Out of this amount, Turkey imported 12.1 bcm by means of pipeline and 10.3 bcm as melted gas (LNG), reported Hurriyet Daily News.
The nation’s pipeline gas imports fell by 22.8% while LNG imports grew 44.8% throughout this duration.
Ankara imported the greatest quantity of gas at 5.44 bcm in the very first half of 2020 from Azerbaijan, marking a 23.4% boost compared to the exact same duration of 2019. Transmission from the Trans Anatolian Natural Gas Pipeline was a consider the development of imports.
No imports from Iran for 3 months
Turkey imported 46% less gas from Iran in the very first half of this year, dropping from 3.75 bcm to 2.02 bcm, without any gas imports made from April to June of this year.
Imports from Russia considerably fell by 41% in the January-June duration of this year to 4.7 bcm relative to the exact same duration last year.
New LNG Source Countries
Turkey, under its long-lasting LNG contract with Algeria, imported the highest LNG volume at 2.99 bcm throughout this duration.
The Highest area LNG volume, however, was imported from Qatar at 2.85 bcm, revealing a 124% boost compared to the very first half of 2019.
The countrie’s spot LNG imports from the United States likewise grew by 144% to reach 2.16 bcm throughout the exact same duration.
In the first half of 2020, Turkey got LNG from new source nations with imports of 633 million cubic meters (mcm) of spot LNG from Trinidad and Tobago followed by Equatorial Guinea, Cameroon, Egypt, Norway and Spain.
Turkey likewise exported 203 mcm of gas to Greece throughout this time.
Turkey took in 3.8% less gas being up to 24.3 bcm in the January-June duration of this year compared to the exact same duration in 2015.
Ankara’s giant offshore natural gas discovery of 320 billion cubic meters (bcm) in the Black Sea is worth $80 billion in line with current price trends, as it is set to significantly reduce the nation’s current account deficit due to energy imports, and strengthen its hand in future trade deals, putting Ankara in a much more favorable position. The giant offshore natural gas discovery in the Black Sea is very important for Turkey, a country that is 99 percent dependent on gas imports. Photo Credit by Hurriyet Daily News.