Gas Export to Turkey to Reach 10 bcm

Gas Export to Turkey to Reach 10 bcmGas Export to Turkey to Reach 10 bcm

Turkey’s natural gas imports for 2015 are projected to reach 52.2 billion cubic meters (bcm), an increase of 9.6 percent compared to last year, according to Turkish Ministry of Energy and Natural Resources. To achieve this target, Ankara aims to import up to 10 bcm of natural gas from Iran, Analdolu Agency reported.

Gas consumption has been increasing continuously in Turkey because of the country’s developing economy, industry and increasing population, and Turkey imported 47.6 bcm in 2014.

The Petroleum Pipeline Corporation of Turkey (BOTAS), will import 20 bcm gas from Russia via the West Line and Blue Stream pipelines. Another 10 bcm will come from Iran. This will equal the amount specified in an agreement signed between the two countries more than 25 years ago.

Turkey will also buy 6.6 bcm of gas from Azerbaijan. BOTAS also plans to import some 5.6 bcm from Algeria and Nigeria as liquefied natural gas.

Additionally, other companies apart from BOTAS will import some 10 bcm from Russia. Turkey uses most of its natural gas for its electric power sector, which accounts for nearly half of the country’s natural gas consumption.

Iran reportedly charges Turkey $490 for every 1,000 cubic meters of natural gas it exports to its neighbor.

Turkey claims that the Republic of Azerbaijan and Russia supply gas to Turkey at $335 and $425 per 1,000 cubic meters, respectively.

Iran is second biggest gas supplier to Turkey after Russia.

The country’s natural gas is of crucial importance to Turkey as the energy-hungry country uses a significant portion of imported Iranian gas to generate electricity.

Iranian officials say gas shipment to Turkey could double from the current 36 million cubic meters per day once new storage and transfer facilities become operational