Turkey sharply increases natural gas prices for industrial users, households
4/1/2022
Turkish state-owned energy importer BOTAS said that natural gas prices for industrial facilities have been raised by 50% and for households by 35%.
BOTAS also said natural gas prices for electricity production was raised by 44.3% as of April 1.
Turkey imports almost all 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 B, government data showed.
BOTAS' purchases of foreign currencies from the central bank have hit record highs in recent months due to soaring energy prices.
(Reporting by Orhan Coskun; Writing by Ali Kucukgocmen; Editing by Muralikumar Anantharaman)
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