Iran’s National Iranian Gas Company (NIGC) has cut gas exports to Turkey for up to 10 days following a technical failure according to media reports, forcing Turkey’s energy ministry to ask electric and natural gas distributors to reduce supply to 60% for large consumers except for that used for heating, schools and hospitals.
According to officials, Iran notified Turkish authorities of the 10-day cut to natural gas flows, but talks are ongoing to start flows earlier as Turkey is almost fully dependent on imported gas from Russia, Azerbaijan and Iran.
‘Iran alone provided 16 percent of Turkey’s natural gas needs in the first ten months of 2021, according to the latest official data.
‘Energy prices have risen sharply in Turkey, driven by global increases and a 44% decline in the lira against the dollar last year.
‘Electricity prices were raised as much as 125% for high-demand commercial users this month and by around 50% for lower-demand households. ‘