Page 50 - TURKRptSep20

Turkey’s spot LNG imports from the US grew by 144% y/y to reach 2.16bcm in the first half.
Turkey's natural gas imports from Russia in May ​fell​ by almost 62% y/y while gas imports from Azerbaijan and Qatar grew by 14.5% y/y and 288% y/y​.
Total gas imports were down 0.5% y/y to 2.67bn cubic metres (bcm) in the month.
Azerbaijan was Turkey's top gas supplier with 881mn cubic metres, followed by Qatar and Russia with 520mn and 339mn, respectively.
Data provided no mention of Iran as a gas supplier to Turkey. Iranian supplies came to a halt when an explosion took a cross-border pipeline out of service, with Tehran then complaining to Ankara that it was dragging its feet in getting the infrastructure repaired.
Prices in long-term take-or-pay gas contracts with Russia and Iran are calculated​ quarterly over the oil prices in the past nine months. After the end of the quarter on June 30, Turkey benefited from the oil price collapse across Q2.
On July 1, gas flow through TurkStream was resumed following maintenance works.
Russia supplies gas to Turkey via the TurkStream and Blue Stream undersea pipelines traversing the Black Sea. They have a total capacity of 32 bcm per year.
Also on July 1, Iran resumed the export of natural gas to Turkey three months after the cross-border pipeline between the two countries was damaged in a militant attack​.
Turkey has a 9.6 bcm per year contract with Iran due to expire in 2026.
Turkey's total gas consumption decreased by 24.2% to approximately 2.24bcm in May from 2.95bcm in May last year.
Household consumption of gas officially grew by 4.6% to 825mn cubic metres while the use of natural gas in power plants was down by 46.2% to 269mn cubic metres.
The amount of natural gas in storage in May increased by 36% to 2.15bcm, from 1.58bcm a year ago.
9.1.2 ​Automotive sector news
The stark depreciation of the Turkish lira has stoked fears among local carmakers and dealers that auto sales, which have been on an upward trend in the past couple of months, may ​reverse​ course​.
Prices of passenger cars increased as much as 10% after the lira lost value against the major currencies, according to local daily Dunya.
Producers and dealers will finalize their end year forecasts after the August sales figures come out.
Interest rates on car loans have already increased as a result of the sharp depreciation of the currency, said Murat Berkel, general manager at Hyundai Assan.
50​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com