Natural gas imports fell by 4.26 percent, but production is not enough to meet consumption! Another price hike is on the horizon for citizens' bills!

Turkey imported 35,066 million sm3 of natural gas in the first 9 months of 2024. Domestic production stood at 1,566 million sm3, while consumption reached 37,968 million sm3.

According to a report by İbrahim Kahveci from Dünya Gazetesi, natural gas imports decreased by 4.26 percent. However, natural gas production rose from 415.57 million sm3 to 1,566.05 million sm3. In other words, the natural gas extracted from the Black Sea has not yet reached the desired level.

NATURAL GAS PRICES ARE RISING

Noting that natural gas prices are increasing, Kahveci stated the following:

"While natural gas imports are decreasing in terms of volume, they are unfortunately increasing in terms of price. The price of natural gas, which remained below 10 dollars in the first 4 months of the year, rose to 10.1 dollars in May. It has not fallen back to single-digit prices since."

Stating that there is an increase in natural gas prices, Kahveci used the words, "Although the natural gas price has remained below last year's levels, it is still in double digits and continues its upward trend."

WILL BE REFLECTED IN BILLS

Finally, Kahveci stated that the increase in natural gas prices would also be reflected in domestic bills, and concluded his remarks as follows:

"The level of approximately 10 dollars in natural gas stands out as a balance point. Currently, with a price of 13.9 dollars, pricing is occurring above the balance level. The situation becomes even more critical when considering that the increase in natural gas prices will sooner or later be reflected domestically."

News Source: 12punto