Eastern Mediterranean gas: Why Turkey is key to its success

Worldwide demand for natural gas is growing, and there is currently no shortage of supply. Moreover, as alternative energy sources become more affordable, the price pressure and competition are likely to remain fierce. In fact, the natural gas price forecast for the next three years shows a flat trend with no significant upside potential. Since peaking at $13.40 around 2005, the price has dropped significantly below $3 in 2019. From a supply point of view, the gas price has been on a downtrend for a variety of reasons.