Under the influence of falling prices of natural gas on world markets and the orientation of Turkey at the national renewable energy the share of Russia in the Turkish import of natural gas for the period from 2017 to 2019 was reduced to 33%.
According to the office for regulation of energy market (EPDK) of Turkey, collected by correspondents of Anadolu, last year Turkey imported 45,21 billion cubic meters of natural gas, the share of liquefied natural gas (LNG) accounted for 29% (about 13 billion cubic meters).
In 2017, Turkey imported a total of 55.25 billion cubic meters of natural gas, of which 19,5% (10,77 billion cubic meters) fell on the share of LNG imports. In 2018 was imported from 50.36 billion cubic meters of natural gas, the share of LNG was fixed at the level of 22.5% (of 11.33 billion cubic meters).
Over the past three years, LNG imports increased by 20.7%.
The share of Russia reduced
In 2017, Russia’s share in Turkish imports of natural gas accounted for about 52%, Turkey imported 28,69 gross billion cubic meters of Russian gas. In 2018 Russia sent Turkey 23,64 billion cubic meters of natural gas, Russia’s share accounted for about 47% of total gas imports.
Last year Turkey imported a total of 45,21 billion cubic meters of natural gas, of which of 15.19 billion cubic meters were received from Russia. Thus, the share of Russia in total gas imports to Turkey amounted to about 33%.
Over the past three years, Russia’s share in Turkish imports of natural gas decreased from 52 to 33%, while the volume of gas supplies from this country decreased by 47%.
Consumer countries are turning to LNG
While the excess supply of natural gas on the world market entails a fall in prices, consuming countries are turning to LNG as prices in the spot market of LNG below the price of gas, fixed long-term contracts.
In this regard, the joint Turkish pipeline company botaş (BOTAŞ), wanting to benefit from falling prices for LNG in the global market, is stepping up purchases of spot LNG. In the first four months of last year, the spot LNG import to Turkey amounted to 2.3 million tonnes, while over the same period of this year to 3.8 million tons.
On the other hand, Botash and the French energy company “total” (Total) has signed an agreement to supply LNG in the amount of 1.2 million tons for a period of three years from the end of the year. With this agreement Turkey is aimed at increasing the share of “indexed to the hub of LNG” in energy imports.
Given that two years will expire three long-term contracts Botash, this agreement LNG is important. With the new agreement the place a pricing mechanism linked to oil under expiring contracts, is a mechanism for “pricing on the basis of the hub”.
