Discussions about price increases are on the agenda following the decline in domestic production of natural gas.

Thanks to the extraction of natural gas from the Black Sea, Turkey recorded a 4.26% decrease in its natural gas imports. However, due to the increase in natural gas consumption and the insufficient level of domestic production, imports continue. In the first 9 months of 2024, Turkey imported 35.066 million sm³ of natural gas, while domestic production remained at only 1.566 million sm³. During the same period, natural gas consumption was 37.968 million sm³.

DOMESTIC PRODUCTION REMAINS INSUFFICIENT

Although natural gas imports have decreased alongside domestic production, the increase in domestic production has not reached the desired levels. The rise in consumption from 415.57 million sm³ to 1.566.05 million sm³ indicates that domestic production is insufficient to meet demand.

IS A PRICE INCREASE FOR NATURAL GAS COMING?

While the amount of natural gas imports is decreasing, prices are on the rise. In the first 4 months of the year, the price of natural gas, which was below 10 dollars, rose to 10.1 dollars in May and continues to increase. The prices being at the level of 13.9 dollars has raised concerns that bills may increase. It is estimated that any increase in the price per cubic meter of natural gas could directly impact citizens' budgets.