Turkey discovers $30bn gas reserve in Black Sea

Turkey has discovered a new natural gas reserve of 75 billion cubic metres in the Black Sea, President Tayyip Erdogan said on Saturday, marking another step in the country’s efforts to reduce its heavy reliance on energy imports.

The $30 billion find was made at a depth of 3,500 metres in the Goktepe-3 well and is expected to cover residential natural gas needs for about 3.5 years, Erdogan said in televised remarks.

Daily output at the Sakarya gas field, Turkey’s main offshore production site, has now reached 9.5 million cubic metres, as Ankara ramps up domestic exploration and strengthens international energy partnerships.

Turkey currently imports over 90 per cent of its energy needs and has made energy security a national priority.

Attribution: Reuters

Subediting: Y.Yasser