Turkey’s Natural Gas Imports Surge in February

Overview of Turkey‘s Natural Gas ImportsIn February, Turkey witnessed a significant increase in its natural gas imports, marking a 16.64% rise compared to the same month in the previous year. This notable growth brought the total imports to 6 billion 433.02 million Sm3, up from 5 billion 515.06 million Sm3 in the previous year’s February.Breakdown of Import SourcesTurkey‘s imports were divided between LNG and piped gas, with LNG constituting 47.61% of the total at 3 billion 62.56 million Sm3, and piped gas making up 52.39% at 3 billion 370.46 million Sm3. The country sourced its LNG from the United States, Algeria, France, and the Russian Federation, while piped gas was imported from Azerbaijan, Iran, and the Russian Federation.Production and Export IncreasesOn the production side, Turkey experienced a 75.41% surge in natural gas production, reaching 213.44 million Sm3. Additionally, exports saw a 46.25% increase, amounting to 179.77 million Sm3.Rising Consumption and Stock LevelsTurkey’s natural gas consumption grew by 19.06% to 7 billion 550.71 million Sm3, compared to 6 billion 342.03 million Sm3 in the same period of the previous year. Consequently, the country’s natural gas stocks experienced a significant reduction of 50.8%, dropping to 2 billion 638.81 million Sm3 by the end of January, a stark contrast to the 5 billion 363.60 million Sm3 recorded at the end of February the previous year.