Turkiye Natural Gas Imports Posted Notable Decline in March

SEATTLE (Oil Monster): Turkiye posted notable decline in natural gas imports during the month of March this year. The imports totalled approximately 4.557 million cubic meters (bcm), during the month, which is down significantly by almost 20% when compared with the same month in 2022.

The latest Natural Gas Market Sector Report published by the Energy Market Regulatory Authority (EPDK) indicates that 3.70 bcm of natural gas were sourced via pipelines, whereas liquefied natural gas (LNG) facilities accounted for the remaining 1.487 bcm.

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The largest natural gas supplier to Turkiye was Russia, whose supplies totalled 1.428 bcm in March. In second and third place were Azerbaijan (922 million cubic meters (mcm)) and Iran (916 mcm). The imports of natural gas from Russia dipped significantly by 48.2% over the previous year. On the contrary, the imports from Azerbaijan and Iran were up by 21.2% and 25.8% respectively.

The Turkiye natural gas stock witnessed an increase of 352.8% year-on-year to total 4.2 bcm. 92.8% of the natural gas stock was stored in underground storage facilities, while the remaining 7.2% was held in LNG terminals. The amount of stock in underground storage facilities recorded substantial growth, whereas those in LNG terminals witnessed modest decline.