LNG Imports in Turkey Projected to Reach 9 MMT by 2025
Rising demand from industrial sector, growing use for power generation and declining average landed prices to drive demand for LNG in Turkey through 2025, says TechSci Research report on Turkey LNG Market.
LNG Imports in the country is projected to surpass 9 MMT by 2025. Increasing application of LNG in industrial sector for manufacturing of glass, ceramics, fertilizer, cement and steel, coupled with rising mining activity for chrome and copper are the major factors driving demand for LNG in Turkey.
Electricity generation capacity in Turkey reached 4.56 MW in 2015 and gross electricity consumption was recorded to be 264.12 billion kWh in 2014. Thus, rising use of LNG as an alternate power source and increasing capacity addition in gas based power plants are the major factors anticipated to fuel demand for LNG in Turkey during 2016 - 2025.
Marmara region dominated Turkey LNG market in 2015 and the region is further anticipated to continue dominate the market through 2025, owing to increasing industrialization and growing number of gas-fired electricity generation units in this region.
In 2015, industrial sector was the leading end use sector for LNG in Turkey, and the same trend is anticipated to continue in the coming years as well, due to rising application of LNG in manufacturing of glass, ceramics, fertilizer, cement, steel, etc.
“Declining domestic production and imports of natural gas from Russia, coupled with continuously rising demand for natural gas from various end use sector are the major factors widening demand-supply gap of LNG in Turkey. However, supply of LNG from Algeria, United States and Qatar are anticipated to increase in the coming years. Moreover, growing need for environment-friendly fuels and favorable government policies are further expected to positively impact Turkey LNG market during 2016 - 2025.”, said Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
