Turkey Liquefied Natural Gas (LNG) Market to be Influenced by Rising Demand for Electric Power Produced from Sustainable Energy Sources through 2028
Turkey Liquefied Natural Gas (LNG)
Market is driven by factors, such as rising investments in utility projects, and
growing demand for distributed power
According to TechSci Research report, “Turkey
Liquefied Natural Gas (LNG) Market - By Region, Competition Forecast &
Opportunities, 2028,” the Turkey liquefied natural gas (LNG) market is
expected to experience growth due to the rising demand for electric power
produced from sustainable energy sources. Turkey has been focusing on
increasing the share of renewable energy sources in its power generation mix.
As the demand for electricity from sustainable sources like wind and solar
power grows, LNG can play a complementary role in supporting the intermittent
nature of renewable energy generation. LNG-fired power plants can provide a
reliable and flexible backup to ensure a stable electricity supply when
renewable energy production is insufficient. LNG is considered a
cleaner-burning fossil fuel compared to coal and oil, with lower carbon
emissions and fewer air pollutants. As Turkey aims to reduce its carbon
footprint and improve air quality, LNG can serve as a transitional fuel in the
power generation sector. It can contribute to the country's clean energy
transition by providing a lower-emission option while renewable energy capacity
continues to expand. LNG offers a reliable and secure source of natural gas for
power generation. As Turkey continues to diversify its energy sources, LNG can
enhance energy security by providing a flexible and dependable fuel option. It
can ensure a stable supply of electricity, especially during periods of high
demand or when renewable energy generation is constrained. To support the
growing demand for LNG in the power generation sector, infrastructure
development is crucial.
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Investments in LNG import terminals,
storage facilities, regasification plants, and related infrastructure will be
necessary to meet the increasing demand. The development of such infrastructure
will facilitate the importation, storage, and distribution of LNG, ensuring an
efficient supply chain for the market. The Turkish government has been actively
promoting the use of sustainable energy sources and has implemented supportive
policies to encourage investments in renewable energy. As the demand for
electricity from sustainable sources increases, the government's support for
the integration of LNG as a complementary fuel in the power sector can further
drive the growth of the LNG market. The shift towards decentralized power
generation, including small-scale and distributed energy systems, is gaining
momentum. LNG can play a role in decentralized power generation by enabling the
construction of smaller, modular LNG-fired power plants. These plants can
provide electricity to remote areas, islands, or industries where grid
connectivity is limited, contributing to the growth of the LNG market. Turkey's
strategic location between Europe, Asia, and the Middle East presents
opportunities for international collaboration and trade in the LNG market. As
the demand for sustainable electric power grows, Turkey can leverage its LNG
infrastructure to import LNG from various global suppliers. This can enhance
energy diversification, strengthen energy partnerships, and support the growth
of the LNG market in Turkey.
In conclusion, the rising demand for
electric power from sustainable energy sources is expected to drive the growth
of the LNG market in Turkey. LNG can provide a reliable and flexible backup to
support renewable energy integration, contribute to the clean transition in
power generation, enhance energy security, and facilitate decentralized power
generation. With supportive government policies and infrastructure development,
the Turkey LNG market is poised to expand as it aligns with the country's
sustainable energy goals.
The Turkey Liquefied Natural Gas (LNG)
Market is divided into LNG infrastructure, application, region, and competitive
landscape. Based on LNG Infrastructure, the market is segmented into LNG
Liquefaction Plants, LNG Regasification Facilities, and LNG Shipping. Based on
Application, the market is segmented into Residential, Commercial &
Industrial. The market is also segmented by region Marmara region, Central
Anatolia, Aegean region, Mediterranean region, Black Sea region, South-Eastern
Anatolia region, Eastern Anatolia region.
Based on Application, the market is
segmented into Residential, Commercial & Industrial, During the projected
period, the Residential sector is anticipated to rule the market, as in residential
uses for natural gas include cooking, heating homes and generating electricity
and along with this, It has domestic uses too as it is used for heaters, ovens
and even boilers, . Due to these factors Turkey Liquefied Natural Gas (LNG)
market will grow.
Key market players in the Turkey
Liquefied Natural Gas (LNG) Market include:
- BOTAŞ Petroleum Pipeline
Corporation
- Enerco Enerji San. Tic. A.Ş
- Akfel Commodities Turkey
Holding A.Ş.
- OMV Enerji Ticaret A.Ş.
- Shell-Turkey
- Bosphorus Gaz Corporation
A.Ş.
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“During the anticipated period, the Turkey
Liquefied Natural Gas (LNG) Market is anticipated to grow. The factors that are
driving the market of the liquified natural gas are the expanding LNG ship
numbers and increased demand for gas-powered electricity generation. Moreover,
government initiatives to promote the use of natural gas and lessen reliance on
fossil fuels, the expanding use of LNG as a transportation fuel, increased
demand for products and services as a result of economic expansion and rising
crude oil costs are all significant factors that would drive the market,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Turkey Liquefied Natural Gas (LNG)
Market By LNG Infrastructure (LNG Liquefaction Plants, LNG Regasification
Facilities, and LNG Shipping), By Application (Residential, Commercial &
Industrial), By Region, Competition Forecast and Opportunities, 2028,” has
evaluated the future growth potential of Turkey Liquefied Natural Gas (LNG)
Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Turkey
Liquefied Natural Gas (LNG) Market.
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