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Turkey 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), Turkey 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, Turkey 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.”
Turkey’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, Turkey has taken a step closer to becoming a regional hub. Russia and Turkey have been discussing the establishment of an international gas hub in Turkey since 2022, with Russian gas playing a significant role in this initiative.
The report noted that Turkey 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.
“Turkey 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, Turkey is expected to reach a gas production of 13 bcm at an upstream capital investment of $8.7 billion,” the report explained.
