LNG

Turkey’s currency crisis threatens gas demand

Turkey’s currency crisis could significantly affect the country’s gas demand, which in turn will weigh on its need for imported gas and LNG Turkey’s currency crisis could significantly affect the country’s gas demand, which in turn will weigh on its need for imported gas and LNG.
By Abhishek Kumar 25 May 2018 0 31040
A gas power plant in Turkey. A gas-fuelled power station in Bandirma, Turkey. (Enerjisa)

Directional impact on forecast:
Downbeat on Turkish gas demand

Turkey’s deepening currency crisis has become a major hurdle to its economic growth prospects. More importantly, the weakening of the Turkish lira against the United States dollar means the country will have to pay more for its imports of gas and LNG, on which it is excessively reliant. This in turn could hit Turkish gas demand and will bolster calls for Ankara to diversify its energy portfolio away from gas more quickly.

The value of...