Ankara: Turkey president said on Friday that Turkey has found 320 billion cubic meters of natural gas in the largest ever finding in the Black Sea.
Announcing the discovery, Turkey’s President Recep Tayyip Erdogan said it would introduce a new era as he promised to step up the search for energy in spite of tensions in the region.
President Erdogan in his televised speech said as follows:
Turkey has made the biggest discovery of natural gas in its history, in the Black Sea.
The expected reserve is 320 billion cubic meters and it will need Turkey’s needs for approximately 8 years.
Turkey wants to begin using the gas reserves by 2023. One after another, we added three drilling ships to our country’s deep-water exploration fleet.
We have become one of the leading countries in the world in this field with our Yavuz and Kanuni drilling ships as well as Fatih which brought us joy today.
Fatih, Turkey’s first drilling ship, has been operating since late July in an exploration zone known as Sakarya in the Black Sea.
Exploration activity for energy sources is also being conducted in the Eastern Mediterranean. We hope to see similar, good news in the Mediterranean as well.
We are going to speed up our operations in the Mediterranean with a deployment of the Kanuni by the end of the year which is currently in maintenance.
Turkey is almost completely reliant on energy imports. And in 2019, it imported 45.21 billion cubic meters of natural gas. We are thankful to God that we witnessed this day.
As a country that has suffered the financial problems of foreign dependency in energy for years, we believe that we will look at our future more confidently.
But energy experts say it might take up to decade-long and several billions of dollars of investment to get the gas into commercial usage.
Turkey bought three drilling ships in recent years as it significantly expanded energy discovery in the Black Sea and contested waters of the eastern Mediterranean.
It’s keen to find substantial energy reserves to ease its heavy dependence on imports from Iran, Iraq, and Russia, and support one of the largest economies in the Middle East.
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