President Erdoğan: Türkiye discovers $30 billion natural gas reserve

Turkish President Recep Tayyip Erdoğan has revealed the discovery of a new natural gas reserve containing 75 billion cubic meters (bcm) during recent drilling operations in the Black Sea.

"With this discovery, we will meet the natural gas needs of homes in Türkiye for 3.5 years," Erdogan said during an event in Istanbul, Caliber.Az reports via foreign media. 

Erdoğan stated that the reserve, located in the Goktepe-3 well at a depth of 3,500 meters, holds an estimated market value of approximately $30 billion.

Türkiye's daily natural gas production at its flagship Sakarya field in the Black Sea has reached around 9.5 million cubic metres, as the country ramps up its energy ambitions both at home and abroad. Türkiye, which imports over 90 per cent of its energy needs, is pushing to cut its import bill and boost supply security by developing domestic resources and expanding international partnerships in oil and gas exploration.

By Naila Huseynova