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.

Share:

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.

  • Populaires ​
Prax Group files for insolvency in the UK after losses at Lindsey refinery
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
The Indonesian-Chinese lithium-ion battery plant will open with 6.9 GWh in 2026
Alinta Energy launches construction of the first Reeves Plains Energy Hub battery in Australia
Strong Rise in Solar Power Reduces Summer Demand for Natural Gas
Solar power generation increased sharply in the United States in June, significantly reducing natural gas consumption in the power sector, despite relatively stable overall electricity demand.
Exxon and QatarEnergy ask US for permission to re-export LNG from October
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
Delfin Midstream secures strategic agreement with Siemens Energy and Samsung
Delfin Midstream reserves gas turbine manufacturing capacity with Siemens Energy and initiates an early works programme with Samsung Heavy Industries, ahead of its anticipated final investment decision in the autumn.
DNO secures USD 500 million financing linked to Norwegian gas
Norwegian group DNO ASA signs gas offtake contract with ENGIE and secures USD 500 million financing from a major US bank to guarantee future revenues from its Norwegian gas production.
Golar LNG raises $575mn through bond issuance and repurchases shares
Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Shell ships first LNG cargo from its LNG Canada facility
Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.
Australia considers east coast gas reservation as market pressures intensify
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.
The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Global small-scale LNG market to reach $31.78bn by 2030
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Chevron and Energy Transfer Expand Their LNG Agreement at Lake Charles
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside completes sale of 40% stake in Louisiana LNG project to Stonepeak
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
Fusion Fuel: Al Shola Gas secures AED4.4 mn ($1.2 mn) in contracts
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy Approves Expansion of Corpus Christi LNG Terminal for 2029
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
LNG industry could reduce emissions by 60%, according to IEA
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe accelerates gas storage filling despite declining reserves
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
Seoul freezes electricity rates amid LNG supply risk concerns
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia ready to deliver liquefied natural gas to Mexico
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel resumes gas exports to Egypt and Jordan
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS