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Turkey expected to unveil new natural gas reserves in Black Sea

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The announcement, expected later on Friday, will add to the country’s current 405 billion cubic metres discovered in different wells in Sakarya gas field in 2020.

urkey’s President Recep Tayyip Erdogan is expected to announce the discovery of more natural gas reserves in the Black Sea.

The announcement, expected later on Friday from Zonguldak, will add to the country’s current 405 billion cubic metres (BCM) it discovered in different wells in the Sakarya gas field last year.

Currently, the Kanuni drillship is completing exploratory tests at the Turkali-2 well, while the the Fatih vessel is drilling in Turkali-3 well, both in the Sakarya field.

Gas production from the field is expected to begin in 2023.

READ MORE: Erdogan: Turkey has found 405 BCM worth of gas in Black Sea

Turkey discovers 320 billion cubic meters of gas in the Black Sea.
Turkey discovers 320 billion cubic meters of gas in the Black Sea. (TRTWorld)

First discovery

In August 2020, Turkey found its first significant gas discovery after finding 320 BCM.

Erdogan said the gas will help the country cut its dependence on energy imports once it is commercially extracted.

Turkey’s drilling ship Fatih has been operating since last July in an exploration zone known as Tuna-1, about 100 nautical miles north of the Turkish coast in the western Black Sea.

In October, it discovered another 85 BCM, boosting the total to 405 BCM.

Tuna-1 is in an exploration zone named after the Danube, where it is located at the confluence of the Bulgarian and Romanian maritime borders and the inland waters of Turkey. 

Drilling for the reserves will be at approximately 3,500 to 4,000 metres at some 150 to 180 kilometres off the Turkish coast.

READ MORE: Turkey finds natural gas reserve of 320 BCM off Black Sea

Impact on economy

International Energy Agency head Fatih Birol said last year the potential economic value of Turkey’s discovery was around $80 billion.

Turkey, which is almost completely reliant on imports to meet its energy needs, has been exploring for hydrocarbons in the Black Sea and in the Mediterranean, where its survey operations in disputed waters have drawn protests from Greece and Greek-administered Cyprus.

In 2019, Turkey spent $41 billion on energy imports. The payments it makes to buy gas from other countries such as Russia and Azerbaijan have been a drag on its currency for years. 

Officials have said the gas will be ready for public use by 2023. 

However, analysts say Turkey could face extra infrastructure costs in breaking into the market.

TRTWorld. (2021, June 4). Turkey expected to unveil new natural gas reserves in Black Sea. Retrieved from https://www.trtworld.com/turkey/turkey-expected-to-unveil-new-natural-gas-reserves-in-black-sea-47242

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