Middle East & Africa Price trends
June 2018
Turkey’s currency crisis will make gas and LNG more expensive for end-users in the country.
The US dollar-Turkish lira exchange rate averaged 4.62 in June, a year-on-year rise of 31.3%. This is making gas more expensive for Turkish consumers. The wholesale gas price for distribution companies in Turkey averaged TRY 24.8/MMBtu ($5.4/MMBtu) in June - a rise of 18% on an annual basis. (see Turkey’s currency crisis threatens gas demand, 25 May 2018).
Ongoing pipeline work will also constrain Russian gas supplies to Turkey...