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Turkey: gas discovery estimated at 67 billion euros


The head of the International Energy Agency (IEA) stated on August 24 that the Turkish offshore natural gas discovery of 320 million cubic meters in the Black Sea could be worth 67.62 billion euros.
The government said it was the largest gas discovery in the country’s history. The gas field is said to be located 2100 meters below the sea floor in the well-known Sakarya gas field, which is 170 kilometers off the Black Sea coast. The importance of the field for Turkey is huge, as it is 99 percent dependent on gas imports. The field could help reduce Turkey’s dependence on foreign countries.
Ankara estimates the cost of exploitation at over 5 billion euros. The start of the promotion should take place in 2023, which should be a realistic goal for Turkey.