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Turkish minister sees no change in gas prices in December

Türkiye Materials 22 November 2022 07:18 (UTC +04:00)
Turkish minister sees no change in gas prices in December

Natural gas prices will not be changed in Türkiye in December, Energy and Natural Resources Minister Fatih Donmez said, adding there will be no supply problems this winter, Trend reports citing Hurriyet Daily News.

Global natural gas prices have been on the rise, increasing from $120/cubic meter to above $3,000/cubic meter in August, he told in an interview with private broadcaster NTV.

“Prices have eased slightly but they are still not where they were in the past. Thanks to supplies secured from a number of countries, there will be no problems this winter. Prices will not be increased in December,” the minister added.

Natural gas prices for households were increased by 20 percent and by around 50 percent for industrial users in September.

Türkiye is buying natural gas from around 20 countries, Donmez furthered.

“Due to the previously made agreements and with new deals inked aimed at meeting the increased demand, we will pass this winter without problems.” he said.

The storage facilities’ capacity in Türkiye is around 4.6 billion cubic and they are 100 percent full, the minister added.

He reiterated that the daily production from the Sakarya field in the Black Sea will be 10 million cubic meters in the first phase.

“This is our target for 2023. The output will increase to 40 million cubic meters after four years. The natural gas production from the Black Sea will be enough to meet households’ natural gas consumption.”

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