Seeking Long-Term Gas Import Security
BMI View: Our forecast for a 30% increase in natural gas consumption over the next decade establishes the context in which the Turkish Energy Minister has embarked on a LNG-focused tour of the Middle East . In addition to renewing a 10-year LNG supply deal with Algeria, Minister Yildiz has also proposed a partnership with Qatar for the construction of a new LNG import terminal on the Gulf of Saros , on the Aegean coast.
Turkey ' s Energy Minister Taner Yildiz has successfully renewed his country ' s long-term LNG import agreement with Algeria. The agreement will ensure that Turkey ' s annual intake of approximately 4bn cubic metres (bcm) of natural gas from Algeria will continue, with the option of possibly increasing it to 6bcm in the future. The contract will be effective from October 2014, when the current bilateral LNG supply contract will expire. On top of this agreement is a separate one with Turkish state-owned Botas - to import up to 2.5bcm of LNG on the spot market, as and when it is needed.
In addition , Yildiz has suggested a possible partnership with Qatar for the construction of a LNG terminal on the Gulf of Saros, located on the Aegean coast. Although this development has only just been proposed, the preliminary details of Turkey ' s concept for such a terminal would include capacity of between 5 bcm and 6bcm, and it could also suppl y gas to neighbouring Bulgaria and Greece, in addition to meeting a portion of Turkish domestic demand . This would be the country ' s third import terminal. Turkey already has terminals in operation through which Botas imports LNG - its own Marmara Eregli terminal, and Egegaz 's Aliaga terminal.
|Peaking Production, Soaring Consumption|
|Turkish Natural Gas Production & Consumption, 2001-2022 (bcm)|