(MENAFN- AzerNews) Türkiye is expected to reach natural gas production of 13
billion cubic meters annually by 2050, enough to power Istanbul and
Ankara for 12 months, positioning it between Western markets and
major energy suppliers in the Middle East and Russia, Azernews reports, citing Anadolu Agency.
According to information compiled by Anadolu from the latest
report prepared by the Gas Exporting Countries Forum (GECF),
Türkiye is expected to incrementally increase its natural gas
production in the Black Sea.
This year, production from the Sakarya gas field in the Black
Sea is estimated to reach 1.6 billion cubic meters, with the
field's first-phase maximum production set to reach 3.5 billion
cubic meters.
With the completion of the development of the second phase of
the Sakarya gas field, production is estimated to reach a total of
11 billion cubic meters per year.
Emphasizing the importance of developments in the Sakarya field,
the report said, "With the expansion of the Sakarya field and
recent discoveries in the South Akcakoca Sub-Basin, Türkiye is on
track to reach 20 billion cubic meters of production by 2040.
However, in the absence of major discoveries, it is likely to fall
to 13 billion cubic meters by 2050."
Türkiye's steps closer to become regional hub
With its pipeline connection to the rest of Europe and its
reloading facilities at three of its regasification terminals,
Türkiye has taken a step closer to becoming a regional hub. Russia
and Türkiye have been discussing the establishment of an
international gas hub in Türkiye since 2022, with Russian gas
playing a significant role in this initiative.
The report noted that Türkiye imported 54 billion cubic meters
of natural gas in 2022, 72% of which was purchased through
pipelines.
The report highlighted the country's diversity of natural gas
sources, with imports of natural gas via pipeline from Russia, Iran
and Azerbaijan, together with the country's five liquefied natural
gas (LNG) terminals with a total annual capacity of 27 million
tons.
The report claimed that net natural gas imports will reach 55
billion cubic meters annually by 2050.
"Türkiye experienced a huge development in its natural gas
investment in 2022. The upstream gas investment increased by $1.6
billion to $2.3 billion in 2022, driven mainly by the first phase
of the Sakarya project in the Black Sea. Over the long term,
Türkiye is expected to reach a gas production of 13 bcm at an
upstream capital investment of $8.7 billion," the report
explained.
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