Page 40 - TURKRptAug22

At current prices, €1bn secures less than 1bn m3 of gas.
Botas’ LNG imports are expected to increase to 9bn m3 in 2022 from 8bn m3 in 2021.
Botas sells gas to domestic consumers at 30% of its cost although the gas price in Turkey went up by 601% y/y for industry, 630% y/y for power plants and 146% y/y for households as of June 1.
The Turkish central bank sold about $18bn in FX to Botas in H1. Year on year, the USD/TRY pair was up 105% to 17.6 on July 19.
In April, Botas obtained a $400mn short-term loan from two unnamed Turkish banks.
40 TURKEY Country Report August 2022 www.intellinews.com