Turkish gas find to provide 30% of its domestic needs

Turkish gas find to provide 30% of its domestic needs

A recently discovered natural gas field in the Black Sea is set to provide nearly a third of Turkey’s domestic needs when it reaches peak production capacity by 2027, Turkish Energy Minister Fatih Donmez said.

Turkey may be able to start with initial annual production capacity of 3.5 billion cubic meters of gas in 2023, Donmez told Bloomberg News. The aim would be to increase that to about 15 billion cubic meters annually within four years of first production, roughly one quarter of the European Union’s output today.

State-run energy company Turkiye Petrolleri AO plans to drill 40 wells over four phases in the Sakarya field, which is estimated to have recoverable gas reserves of about 540 billion cubic meters.

Turkey aims to cut its annual energy bill of around $44 billion by reducing its reliance on imports, which currently account for nearly all of the country’s gas consumption. Domestic gas demand is expected surge by a quarter to reach 60 billion cubic meters this year, due to lower hydropower production amid dry weather and rising coal prices, Donmez said.

The desired plateau production from Sakarya amounts to just over 31% of last year’s gas demand. But increased domestic output could push Turkey’s annual consumption to as much as 80 billion cubic meters by 2030, a Turkish official said in 2020.

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