Turkey asks for gas: Gazprom increases share, Azerbaijan loses

Despite the development of a large field in the Black Sea, Turkey is increasing gas imports. One of the reasons is a drop in the capacity of hydroelectric power plants, which makes it necessary to use more gas generation. In this situation, the only supplier who was able to quickly and seriously increase supplies was again only Gazprom, which increased its own share in the Turkish market.

Gazprom continues to increase supplies to Turkey and for seven months of this year, according to EPDK, they amounted to 12.74 billion cubic meters of gas. This is 25% more than a year earlier, and the largest deliveries since 2022.

As a result, the share of the Russian company in Turkish imports increased from 37% to 38%, despite a significant overall increase in purchases. They amounted to 33.53 billion cubic meters in January-July, according to the data of the Turkish regulator.

Due to a decrease in hydropower capacity and overall demand, imports had to be increased by 21%. In this situation, Azerbaijan, which has also increased supplies, has lost a share. The share of Caspian gas in the Turkish market dropped from 24% to 22%. In January-July, Turkey received 6.79 billion cubic meters from Azerbaijan. Turkish companies may have bought more Caspian gas, but the country's ability to increase production is limited.

The growth of Russian gas supplies to Turkey helped Gazprom partially compensate for the loss of Ukrainian transit. Additional volumes for the first seven months of this year amounted to more than 2.5 billion cubic meters, or 29% of deliveries through Ukraine in January-July 2024.

As EADaily reported, due to sanctions and counter-sanctions, Gazprom reduced supplies to Europe by five times. China has become the largest importer of Russian gas, while Turkey ranks second.