Middle East

Iran gas flow to Turkey cut by technical failure -officials

ISTANBUL, Jan 20 (Reuters) – Iran has cut gas flows to Turkey for up to 10 days due to a technical failure, prompting Turkish authorities to order gas-fuelled power plants to cut gas use by 40%, sector officials said on Thursday.

Turkish natural gas distributors were also asked to reduce supply to 60% for large consumers except for that used for heating, the Turkish sector officials said, adding that schools and hospitals will be exempt.

Iran notified Turkey of a 10-day cut to natural gas flows but talks are ongoing to start flows earlier, the officials added.

Turkey is almost fully dependent on imported gas from Russia, Azerbaijan and Iran. Iran alone provided 16% of Turkey’s natural gas needs in 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. read more

Natural gas prices jumped 25% for residential use and 50% for industrial use in January, national distributor BOTAS said. The price rise was 15% for power generators.

Reporting by Orhan Coskun; Writing by Ali Kucukgocmen; Editing by Dominic Evans

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