Türkiye Announces $30 Billion Natural Gas Discovery in the Black Sea

In a major energy breakthrough, President Recep Tayyip Erdoğan has announced the discovery of a 75 billion cubic meter (bcm) natural gas reserve in the Black Sea, estimated to be worth $30 billion.

The find was made at the Goktepe-3 well after 49 days of deep-sea drilling at a depth of 3,500 meters, using Türkiye’s advanced drilling ship, Abdulhamid Han. This reserve alone could meet the country’s entire residential gas demand for approximately 3.5 years—an important step toward energy self-sufficiency.

The discovery builds on momentum from the Sakarya Gas Field, which currently supplies over 4 million households. The government plans to double output by 2026 and quadruple it by 2028, aiming to significantly reduce reliance on energy imports, which currently account for over 90% of national consumption.

Sources: Anadolu Agency, Reuters, Bloomberg