The volume of gas sent from Iran via pipeline to Turkey in August 2023 reached 916.3 million cubic meters, representing a 9.1 percent increase compared to the same period last year. In contrast, Turkey's natural gas imports during this period decreased to about 2.8 billion cubic meters, equivalent to a 32.7 percent drop compared to the previous year.
Iran's Role in Supplying Gas to Turkey
With the increase in exports, Iran's share of Turkey's total natural gas imports rose to 33 percent, compared to a share of 20.4 percent last year, indicating a significant growth. This increase comes at a time when Azerbaijan and Russia, two other gas suppliers to Turkey, have seen a substantial decline in their exports.
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Decrease in Gas Consumption in Turkey
Turkey's natural gas consumption in August 2023 reached about 2.7 billion cubic meters, which is a 22 percent decrease compared to the same period last year. Of this amount, 1.1 billion cubic meters were consumed in the industrial sector, 886 million cubic meters in electricity generation, and 326 million cubic meters in the residential sector. By the end of August, Turkey had 5.8 billion cubic meters of natural gas in its storage facilities.
During this month, Turkey's imports of crude oil and petroleum products also increased by 2.3 percent to 4.5 million tons. Although crude oil imports decreased by 1.1 percent to 2.8 million tons, diesel imports increased by 9 percent to 1.2 million tons. Russia remains the top supplier of oil to Turkey with 1.3 million tons.
Developments in Turkey's Energy Market
At the same time, Turkey's petroleum product exports fell by 34.8 percent to 793,364 tons. Aviation fuel exports also dropped by 18.2 percent to 527,263 tons. Given these developments, it appears that Turkey's energy market is undergoing significant changes that require more detailed analysis.
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