Iran has achieved an important milestone in the Turkish gas market, raising its share to 33%. This increase has been recorded at a time when Turkey's natural gas imports from all foreign suppliers have faced a 32.7% decline.
Turkey's Gas Imports and Iran's Share
Statistics show that Turkey's natural gas imports in August reached about 2.8 billion cubic meters. However, Iran's share of this market has increased from 20.4% in the same period last year to 33%. Thus, Iran has gained a more significant position among Turkey's main gas suppliers and has increased its export volume amid the country's declining imports.
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Decline in Exports from Other Suppliers
In contrast, Azerbaijan's gas exports to Turkey fell by 28.2% to 752.4 million cubic meters. Russia's exports also decreased by 60.6%, limited to 723.1 million cubic meters. Russia's share of Turkey's gas import market dropped from 44.5% in August last year to 26.1%. Additionally, Turkey imported 383.8 million cubic meters of liquefied natural gas from Algeria, which was 28.5% more than the previous year.
The decline in Turkey's gas imports has coincided with a drop in the consumption of this fuel in the country. Turkey's natural gas consumption in August decreased by 22% compared to the previous year, reaching about 2.7 billion cubic meters. The industrial sector was the largest gas consumer, using 1.1 billion cubic meters, while the energy production and conversion sector consumed 886 million cubic meters of gas. Household gas consumption in this month reached 326 million cubic meters.
Looking to the Future
At the end of August, Turkey had 5.8 billion cubic meters of natural gas in its storage facilities, with 5.5 billion cubic meters stored in underground facilities and 304 million cubic meters in liquefied natural gas terminals. Iran's increased share in the Turkish gas market could be significant for maintaining its export market and strengthening Iran's regional position. However, the continuation of this trend depends on gas production and transportation capacity, export commitments, and the level of demand from Turkey. The decline in gas consumption in this country also indicates that Iran's export growth in August does not necessarily mean an overall increase in Turkey's demand for gas.
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