Turkey needs 15-18 bcm additional gas for 2022

(Enerji IQ – August 2021) Despite the latest gas-purchase agreement signed by BOTAS and Azerbaijan, Turkey’s gas-import strategy for securing demand in 2022 remains unclear.

According to data compiled by Enerji IQ Market Information Services for Turkey’s long and medium-term gas contracts, Turkey’s contractual gas volume is 42 bcm/y as of the end of August. Turkey’s annual gas consumption is forecast to reach around 60 bcm, which requires an additional 15 bcm to 18 bcm of gas in 2022.

Turkey is expected to meet the majority of this additional demand with LNG. However, the stability of the transmission system and the overall price structure may force Turkey to sign new pipeline gas contracts.

Turkey imported 15.08 bcm of LNG in 2020—the highest annual volume on record.