ANKARA, 26 Dec. Turkish President Tayyip Erdogan said that a new gas field with a reserve of 58 billion cubic meters was discovered in the Black Sea.
Earlier, the Sabah newspaper wrote that Turkey will invest almost $10 billion in a project to extract and transport 540 billion cubic meters of gas from the field Sakarya in the Black Sea. According to plans, the first gas from the field should come to Turkey in 2023. Turkish Minister of Energy and Natural Resources Fatih Donmez also reported that the estimated cost of gas discovered in the Black Sea is $400 billion.
«Our Fatih drilling vessel discovered 58 billion cubic meters of natural gas reserves at a depth of 3,230 meters under water,» Erdogan said in his address to the nation after the cabinet meeting.
Previously announced reserves were about 540 billion cubic meters.
«Our gas reserves in the Black Sea increased by 170 billion cubic meters thanks to the new discovery, reaching a total of 710 billion cubic meters.The natural gas that we discovered in the Black Sea is worth $1 trillion on international markets at today's rates,» the Turkish leader added.