Turkey on gas reserves found:


Turkey estimated the gas reserves found in the Black sea at about USD 65 bln. This was stated by Turkish Minister of Energy and Natural Resources Fatih Dönmez.

The field will allow the country to become independent from energy imports. They cost Ankara tens of billions of dollars annually. Turkey will start production of its own gas   from the field found in 2023.

At the same time, experts specify that the country's declared gas volumes may not last long.

«To begin with, it is not clear what this field is. Erdogan is talking about a new era, but Poland also declared a new era of independence when it found shale gas. But in the end it came to nothing. It is not clear how much can be extracted there – it is worth waiting for an international audit of wells» - says Igor Yushkov, an Expert at the Financial University under the Government of the Russian Federation, an expert at the National Energy Security Fund.

Experts also warn that it may take 10 years to start operating the field, and the infrastructure for its development will require billions of dollars of investment.

Recall that on August 20, it was reported that Turkey has found new gas fields in the Black sea. Erdogan called it a historic event and announced that it expects to be the same success in the Mediterranean sea. The found field is located near a large gas field in the territorial waters of Romania, which is jointly developed by the Romanian company Petrom (controlled by OMV Austrian Oil Company) and the American ExxonMobil.

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Saved: 24.08.2020

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