2023-04-18 02:32:53
The Turkish oil company (Turkish Petroleum) announced today, Monday, that it will start this week in producing natural gas from the largest field in the Black Sea.
The company stated in a statement that production in the “Sakarya” field will start this Thursday, with expectations of providing 10 million cubic meters per day in its first phase, and will rise to a peak of 40 million cubic meters by 2027-28 in the second phase.
The Turkish state-owned corporation said that this production would be enough to cover regarding a quarter of Turkey’s current consumption of 53 billion cubic meters per year, providing a welcome impact on the $97 billion annual energy import bill, which widens the current account deficit.
Turkish Petroleum hopes to export some gas to markets including Europe, according to what was stated recently by Chairman of the Board, Mele Han Bilgen, during a visit to the gas processing facility in Zonguldak, on the southern coast of the Black Sea. There are no figures currently on projections of the volume Turkey can export, but it does have pipelines linking it to neighboring Bulgaria and Greece, which can ship gas to Europe. And if the coming winter is cold, the continent may face a fuel shortage and an increase in demand for non-Russian supplies, according to local media estimates.
Turkish Petroleum says that the Sakarya field contains 710 billion cubic meters of exploitable reserves.
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