Turkey received its third FSRU on Wednesday last week. The vessel loaded the commissioning cargo for the Saros FSRU project in Egypt and is now being prepared for continuous operation for the next 12 months.
The arrival of the FSRU enhances Turkey’s LNG import capabilities after the country concluded an infrastructure access deal with Bulgaria and amid rising national gas demand.Turkey’s state-controlled energy champion BOTAS is in the process of launching its new FSRU terminal in Saros Bay in northern Turkey.
Our ship tracking data showed the 180,000cbm Vasant 1 FSRU arrive on location on Wednesday last week.
The vessel carried an approximate cargo of 0.05mmt loaded at Egypt’s Damietta terminal on 11 February, according to our data and calculations. The vessel is on a 12-month charter with BOTAS, according to Trade Winds.
Delayed Indian project
The Swan Energy-owned Vasant 1 was originally intended for the delayed Jafrabad FSRU project in India.
Swan Energy began the project together with the Indian Farmers Fertiliser Cooperative (IFFCO), Mitsui and Petronet Gujarat on the southern shores of Gujarat State.
The terminal was originally planned to be commissioned in 2019 but saw delays due to the coronavirus pandemic and subsequent rise in LNG prices.
Swan Energy previously said in mid-2022 it would launch the terminal by the end of the year.
The Saros FSRU project is Turkey’s third FSRU installation.
BOTAS also owns and operates the Iskenderun facility offshore Dortyol in southern Turkey whilst independent player Pardus Energy has stationed the 170,000cbm Turquoise offshore Etki, a small town close to Izmir.
The location of the Saros terminal increases BOTAS’ LNG import capacity close to Turkey’s European borders.
The company recently agreed with Bulgaria’s Bulgargaz to access Turkey’s gas grid and LNG import facilities for 13 years. Bulgaria is planning to import 1.3bcm per year of regasified LNG from Turkey, according to the Bulgarian news citing the country’s Council of Ministers.
Gas demand growth
Turkey’s LNG demand has been on an upwards trend, our data show. The country’s LNG imports stood at 2.16mmt in January, up 0.36mmt (20pct) year-on-year. Turkey uses a significant share of its natural gas imports to generate electricity.
Turkey’s installed LNG import capacity – not counting the new Saros facility – amounts to 17.78mmt.
The country saw total LNG imports of 10.75mmt in 2022. Close to half of these volumes arrived at Turkey’s northern terminal Marmara Ereglisi. The country’s gas demand is strongest in the north.