Turkey has declared 710 billion cubic meters of gas reserves in the Black Sea, with a current market value of $1 trillion. In addition, President Recep Tayyip Erdogan announced the discovery of another new gas field called Cakuma-1.
According to a Bloomberg report, this large amount of reserves is mainly due to the Sakarya gas field. The field now holds 652 billion cubic meters of gas (bcm) compared to an initial estimate of 540 bcm. Erdogan said these things after the cabinet meeting on Monday.
He also said that Turkey has dug 13 new wells in Sakarya gas field. He also mentioned a separate discovery of 58 billion cubic meters of gas in another nearby offshore field.
The Turkish President said, ‘Our new discovery at Cakuma-1 has increased our gas reserves in the Black Sea by 170 billion cubic meters to 710 billion cubic meters.
Erdogan noted that the newly discovered Cakuma-1 field is in Sakarya and will be connected to the national grid from there. The Sakarya gas field is believed to be the largest discovered in the Black Sea and will go online next year, he said.
He said, ‘Our new discovery will pave the way for similar explorations in other geological areas adjacent to the region. We will start new drilling as soon as possible.’
Before the discovery of the field, Turkey planned to produce 3.5 billion cubic meters of gas annually. The goal was to increase annual output to 15 billion cubic meters within four years and cover a third of the country’s demand.
Turkey was recently planning to diversify its energy imports. It was at such a time that the matter of discovering new fields came to the fore. The country is highly dependent on LNG imports from Qatar and the United States, in addition to supplies from Russia, Azerbaijan, Iran, Nigeria and Algeria.
(Dhaka Times / 28 December / SAT)