Page 49 - TURKRptJun20

9.0​ Industry & Sectors 9.1 ​Sector news
9.1.1​ Oil & gas sector news
The Trans Adriatic Pipeline (TAP) project—the last pipeline link required for Azerbaijan to meet its ambition of exporting natural gas to the European Union—has started introducing its first gas into the Albanian section of the pipeline​, according to Azerbaijani media ​reports​.
A four-kilometre pipeline section running from the Albanian-Greek border and the TAP metering station in Bilisht, southeastern Albania, received the gas on May 20, according to Azertac.
The €4.5bn project will enable gas flows to reach southern Italy via a route that stretches from the Turkish border, across Greece and Albania and the Adriatic Sea.
Prior to that, gas from Azerbaijan's Shah Deniz II development in the Caspian Sea is to flow through Southern Gas Corridor (SCG) pipelines to Turkey via Georgia.
The latest project update from TAP is that gas from Azerbaijan should reach Italy via its pipeline before the end of this year.
TAP’s shareholders are BP (20%), Socar (20%), Snam (20 %), Fluxys (19%), Enagas (16%) and Axpo (5%).
9.1.2 ​Automotive sector news
On April 30, Murat Sahsuvaroglu, head of Turkey’s Authorised Automotive Dealers Association (OYDER), said that ​vehicle sales in the country plunged to around 25,000 units in April​ from 50,008 in March.
Only 26,000 vehicles were sold in Turkey in April, marking the weakest sales month for automakers since 2003, data from the Automotive Distributors’ Association (ODD) showed on May 8.
The contraction was limited to 15% y/y thanks to the base effect and cheaper loans provided by local banks.
However, the decline in sales was measured at nearly 65% compared with the same month of 2017.
Passenger car sales were down 10.6% y/y to 22,000 units in April while light commercial vehicle (LCV) sales plunged 29% y/y to 4,600 units.
Before the coronavirus (COVID-19) pandemic emerged, the ODD predicted that auto sales would hit a level between 575,000 and 600,000 units this year. The association is yet to provide any updated forecast for 2020. It has said consumer demand has become too unpredictable given the outbreak.
Carmakers Tofas and Ford Otosan predicted that sales would remain well below 600,000 units this year.
Turkey’s automotive sector exports plunged 77% y/y to a value of $505mn in coronavirus-hit April​, according to trade ministry data.
49​ TURKEY Country Report​ June 2020 ​ ​www.intellinews.com