Turkey sharply increases natural gas prices for industrial users, households

Turkish state-owned energy importer BOTAS said late on Thursday that natural gas prices for industrial facilities has been raised by 50% and for households by 35%.

Turkey sharply increases natural gas prices for industrial users, households

BOTAS also said natural gas prices for electricity production was raised by 44.3% as of April 1.

Turkey imports almost all of its energy needs, leaving it vulnerable to big price swings. Its energy costs started rising in September and surged 212% year-on-year in the first two months of 2022 to 16.8 billion USD, government data showed.

BOTAS' purchases of foreign currencies from the central bank have hit record highs in recent months due to soaring energy prices.

Reuters