Turkey’s first floating storage and regasification unit (FSRU) Ertuğrul Gazi is seen at the port in Dörtyol in the southern province of Hatay, Turkey, April 22, 2021. (AA Photo)
Turkey’s energy watchdog has raised its 2022 natural gas consumption forecast by 20% compared to a year ago, according to a decree published in the Official Gazette on Friday.
The Energy Market Regulatory Authority (EPDK) estimates around 60.4 billion cubic meters (bcm) of gas will be consumed in the country throughout 2022.
It had a forecast of 50.8 bcm for 2021 but gas consumption is estimated to have risen to an all-time high of 61 bcm.
It stemmed from a record demand that forced the country to step up purchases on the spot market and accelerate efforts to renew long-term contracts expiring this winter and to top its supply with liquefied natural gas (LNG).
A drought last year curtailed hydroelectric power, putting idled gas power plants back online and driving Turkey’s consumption, just as prices rocketed in Europe.
One of the largest gas importers in Europe, Turkey depends on pipeline gas from Russia, Azerbaijan and Iran as well as LNG imports from Nigeria, Algeria and spot markets.
Plans to cover up to a quarter of its consumption from its Black Sea discovery from 2027 are also expected to strengthen its hand in future negotiations.
The daily peak consumption hit a record of 288 million cubic meters on Jan. 20, just a day before Iran announced it cut gas supplies for 10 days, citing technical failures.
President Recep Tayyip Erdoğan late Wednesday said full gas flow from Iran would return in 10 to 15 days.
The sudden stoppage forced Turkey to impose restrictions to limit gas use and cut electricity supplies for industrial sites, prompting some manufacturers to halt production.