• Global Gas Analytics
  • Analysis & Forecasts

Middle East & Africa Price trends

December 2018

High costs are taking a toll on Turkey’s LNG demand, and the trend is set to continue in 2019.

The impact of Turkey’s currency crisis is becoming evident in the country’s LNG purchases. The exchange rate between the US dollar and the Turkish lira averaged 5.63 between July and November, which implies the dollar strengthened against the lira by 56% on an annual basis. Meanwhile, Turkey’s GDP contracted by 1.1% on a quarterly basis in Q3 2018 – the first time it has shrunk since Q3...