Turkey Increases Gas Reserves

In Turkey, President Tayyip Erdogan announced that the country’s total volume of natural gas is now 710 billion cubic meters.

A new gas field in Turkey

Turkey announces the discovery of a new gas field and revises upwards a previous discovery. The country has just discovered a new reserve of 58 billion cubic meters in the Caycuma-1 field. In addition, Ankara has revised the estimated volume in the Sakarya field to 652 billion cubic meters from 540 billion cubic meters.

Turkish President Tayyip Erdogan says:

“As a result of data analysis, we have revised the previously reported reserve from 540 billion cubic meters to 652 billion cubic meters. With our new discovery at Caycuma-1, our Black Sea gas reserve has increased by 170 billion cubic meters to 710 billion cubic meters.”

In addition, he said that the country was drilling 13 wells in the Sakarya field. In addition, he estimates that Turkey could bring the Sakarya gas field on stream in 2023.

An energy dependency

Turkey plans to connect the newly discovered Caycuma-1 field to the Sakarya field. The country, which has little oil and gas, is heavily dependent on imports from Russia, Azerbaijan and Iran. In addition, it also depends on LNG imports from Qatar, the United States, Nigeria and Algeria for its gas.

Turkey is exploring hydrocarbon resources in the Mediterranean. However, its operations in the disputed waters are raising tensions with Greece and Cyprus. In addition, Russian President Vladimir Putin, launched the idea of creating a gas hub in Turkey.