Turkey will begin gas production at the largest field in the Black Sea

On Thursday, April 20, Turkey will start producing gas at the largest field in the Black Sea, which will make it possible to further reduce energy prices in the country and dependence on imports. This is reported by Bloomberg.

In the first stage, the Sakarya field will produce 10 mcm per day, and in the second stage it will reach 40 mcm per day by 2027-2028, the state company Turkish Petroleum AO reported. The company also stated that the field contains gas reserves of about 710 bcm.

This production would be enough to cover about a quarter of Turkey's annual consumption, which is estimated at 53 bcm per year, and will reduce the energy import bill, which is about $97 billion per year.

Earlier, Minister of Energy Fatih Donmez said that gas will be produced cheaper than imports. Turkish Petroleum hopes to export some gas to markets including Europe, but the company will have to balance domestic supply with exports.