Turkey’s record demand for natural gas this year forces it to step up purchases on a surging spot market as it scrambles to renew long-term contracts expiring this winter, according to Reuters. The country had four long-term import contracts expiring this year totaling 16 billion cubic meters (bcm) annually. With daily peak consumption expected to hit 300 million cubic meters this winter, Turkey will have to renew all expiring contracts with at least the same volumes, and top up its supply with expensive LNG, according to energy consultant Arif Akturk.
President Recep Tayyip Erdogan virtually attended the G20 Extraordinary Leaders’ Meeting on Afghanistan. Erdogan proposed the creation of a working group on Afghanistan under the G20, saying that Turkey is ready to assume the chairmanship of the group.
New coronavirus cases hit 33,860 and death toll rose to 237 in the last 24 hours, according to the Health Ministry. Health Minister Fahrettin Koca said there has been a stagnation in number of vaccines in recent days and majority of losses consist of unvaccinated people.
DAILY AGENDA
House sales rose by 7.6% to 147,143 in September, compared to the same month of the previous year, according to the Turkish Statistical Institute (TurkStat).
The Construction Cost Index (CCI) increased by 42.13% in August, compared to the same month of the previous year, according to TurkStat. The CCI rose by 0.93% on a monthly basis.
The overall export unit value increased by 9.9% while the overall import unit value index surged by 27.1% in August, compared to the same month of the previous year, according to TurkStat. The overall export volume index jumped 38.2% and the overall import volume index increased by 2.7% in the same period.
The Parliament’s General Assembly will continue to discuss the legislative proposal on Tax Procedure Law and amendment of some laws.
The Parliament’s Industry, Trade, Energy, Natural Resources, Information and Technology committees will convene to discuss the legislative proposal on the Law on Cooperatives and amendment on some laws.
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