Botaş hikes natural gas prices 20 pct

ANKARA

Turkey’s Petroleum Pipeline Corporation (Botaş) said on Dec. 3 that it had raised natural gas prices for industrial use and for electricity production by 20 percent.

Natural gas prices for households were unchanged at 1,488 Turkish Liras ($108.4) per 1,000 cubic meters.

Last month, Botaş increased gas prices for businesses and power stations around 48 percent.

For consumption above 300,000 cubic meters in a year, price of 1,000 cubic meters of natural gas was raised to 3,500 liras ($255), up 48.4 percent.

Natural gas prices for organized industrial zones had also been hiked 48.4 percent to 3,482 ($253.5).

Last month, power stations received natural gas for 4,000 liras ($291.2) per 1,000 cubic meters, up 46.8 percent.

According to the Household Energy Price Index, Turkey provides cheapest natural gas for households in Europe, Botaş said.
Natural gas prices in Europe have soared amid economic recovery and low inventories. Analysts at Deutsche Bank noted that in Europe prices are up fivefold, while in the U.S. and Asia prices are about 1.5 times higher compared to last year.

Turkey imports around 45 billion cubic meters of natural per year paying approximately $12 billion to pipeline exporters Russia, Azerbaijan and İran, as well as LNG suppliers including Qatar, Nigeria, Algeria and the United States. Nearly a third of the country’s gas needs are met with LNG supplies.