Turkey, drilling vessel Fatih

New gas reserves will be able to supply Turkey for 25 years

The natural gas reserves discovered by Turkey in the Black Sea already amount to 405 billion cubic meters.

The natural gas reserves discovered by Turkey in the Black Sea, initially estimated at around 300 billion cubic meters, have been revised and are now estimated at 405 billion cubic meters: an amount that is estimated could cover 100% of the gas needs of Turkish households for 25 years.

Turkish President Recep Tayyip Erdoğan revealed on Saturday that with the new discoveries of the Fatih exploration vessel in the new Sakarya gas field, the discovered reserves amount to 405 billion cubic meters of gas, an amount 25 times higher than the production of Turkey until now, and whose market value could reach 90 billion dollars at current prices.

The discovered reserves are equivalent to 9 times Turkey’s natural gas imports in 2019, and will serve to significantly reduce its energy dependence from abroad; however, since it is normal for gas production to increase gradually, it will take several years for production to reach its maximum peak.

Current government plans include starting the exploitation of the reserves in 2023, with an initial production of between 5 and 10 billion cubic meters per year, reaching its maximum peak in 2026 with 15 billion cubic meters per year. To do this, Turkey will build a 200 km long gas pipeline to connect the gas field – located in its Exclusive Economic Zone on the Black Sea – with its distribution network on the continent.

Speaking to the media, the president of the Association of Natural Gas Distribution Companies of Turkey, Yaşar Arslan, said that with the latest discoveries it is estimated that the Eurasian country will be able to cover 100% of its natural gas needs for domestic consumption for practically 25 years without depending on external energy sources. “Currently 14 million households in Turkish cities use natural gas,” Arslan noted.