İrem UZUN -TDO- President of the Republic of Turkey, Recep Tayyip Erdogan, announced on Friday that Turkey discovered its biggest ever natural gas field holding 320 billion cubic metres in the Black Sea, and more could be found as the country works to provide it by as soon as 2023. "Turkey has made the biggest natural gas discovery in the Black Sea," Recep Tayyip Erdogan said at the historic Dolmabahce Palace in Istanbul.
Erdogan said earlier on Wednesday that he would announce "very good" news on Friday which would usher in "a new era" for the country. Following Erdogan's remarks, shares in the refinery company Tupras and petrochemical manufacturer Petkim jumped significantly, triggering speculation that Erdogan would announce the discovery of an oil or gas reserve. Eventually, earlier on Friday A Haberturk daily report said that Turkey's Fatih-1 drilling ship discovered gas in two separate locations, near the Danube river and in the Kiyikoy region along Thrace's shores. If the gas can be commercially extracted, the discovery could help Ankara cut its current dependence on imports - from countries such as Russia, Iran and Azerbaijan - for a substantial amount of its energy needs.
Analysts said it was not clear whether the 320 billion cubic metres he announced referred to total gas estimates or amounts that could be extracted, but that either way it represented a major discovery.