Tuesday, May 20, 2025

Turkey Discovers $30bn Natural Gas Reserve in Black Sea, Signaling Energy Pivot

Must read

Turkey has discovered a new natural gas reserve of 75 billion cubic metres (bcm) in the Black Sea, President Recep Tayyip Erdoğan announced on Saturday. The find, located in the Goktepe-3 well at a depth of 3,500 meters, carries an estimated economic value of $30 billion, the president said during a public event in Istanbul.
“This discovery alone can meet the residential gas needs of our nation for approximately three and a half years,” Erdoğan declared, underscoring the government’s commitment to reduce foreign energy dependence.

The new reserve is located near the Sakarya Gas Field, Turkey’s flagship offshore project, where daily production has already reached 9.5 million cubic meters, according to Turkish energy officials. The country currently imports over 90% of its energy needs, making this find strategically critical for reducing its annual energy import bill, which nears $100 billion.

“This is not just about one gas well. It’s a reaffirmation of Turkey’s resolve to shift the energy equation in its favor,” said Dr. Firas Haddad, energy analyst at the Middle East Energy Institute. “Turkey is clearly signaling it intends to become less reliant on traditional suppliers like Russia and Iran, and this find adds credibility to its vision.”

This discovery comes as Turkey intensifies exploration efforts across the Eastern Mediterranean, the Black Sea, and Northern Iraq, while also seeking expanded cooperation with Gulf states and Central Asian producers.

Energy Ministry sources stated that the Goktepe-3 drilling site is part of a larger cluster of exploratory targets Turkey plans to develop with renewed urgency over the next two years. “This reserve may just be the beginning. We’re evaluating adjacent wells that show promising data,” said a senior official, requesting anonymity due to the sensitivity of the ongoing survey.

According to Dr. Lina El-Sharif, a Cairo-based energy economist, “Turkey’s accelerated resource development could shift future gas flows and transit deals in the region, especially if Ankara links Black Sea finds to its southern gas network.”

Turkey’s discovery is a fresh step in a broader national strategy aimed at full energy sovereignty by 2053, as outlined in Erdoğan’s Vision 2053 agenda. Alongside exploration, Turkey is investing in nuclear energy, renewable infrastructure, and regional pipeline diplomacy to diversify and secure its energy portfolio.

While independent validation of the new reserve’s quality and production potential remains pending, industry insiders suggest first gas from the Goktepe-3 well could be realized within 18–24 months, depending on infrastructure deployment.

The new find, while substantial, is one chapter in a wider transformation of Turkey’s energy narrative. From relying heavily on imports to gradually becoming a self-reliant player with aspirations to influence regional markets, Ankara’s gas discovery reflects both economic necessity and geopolitical intent.

As the global energy landscape evolves—and with Europe diversifying away from Russian supplies—Turkey’s Black Sea reserves could become a critical piece in the regional energy puzzle.

Reports

- Advertisement -spot_img

Intresting articles