With limited indigenous gas production, Turkey is reliant on imported piped gas and LNG with LNG making up 16% of gas supply in 2014. Turkish LNG importers have historically reacted strongly to changes of relative prices of spot LNG and oil-indexed piped supplies. In the short to medium term this will lead to a decrease in LNG imports to Turkey as pipe gas will be relatively cheap. However, the level of spot LNG imports will depend on weather conditions during the peak demand season in winter. Infrastructure projects will add pipeline import capacity and expand available gas storage which will increase competitive pressure on spot LNG.
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As global energy demand rises, the market for liquefied natural gas (LNG) continues to expand. Set to increase by 50% between 2015 and 2020, the LNG market is one of the fastest growing in the world. This spectacular growth is transforming the market, with many new companies entering the sector and changing the industry landscape.
This LNG Long Term Outlook report provides an overview of LNG in the gas market.
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Commodity market report | Feb 2016
Turkey LNG long-term outlook 2015
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