Sabancı University Istanbul International Energy and Climate Center (IICEC) has shared its views on Turkey's very important natural gas discovery.
IICEC Research Director Bora Şekip Güray stated that, as a result of intensive work and important steps taken by the Ministry of Energy and Natural Resources in the recent years, Fatih drilling ship has discovered 320 billion cubic meters (bcm) of natural gas reserves in the Black Sea, which would make a significant contribution to more secure, competitive and sustainable growth of the Turkish energy sector.
IICEC Research Director Bora Şekip GürayGüray stated that this important discovery that has been the lucrative result of Turkey's technology-oriented exploration and production efforts will be instrumental in finding new reserves in the future. Güray also underscored that this development would strengthen Turkey's negotiation power in the gas import negotiations in the next few years.
Güray emphasized that natural gas plays a key role in the energy sector, in electricity generation, many industrial sectors and heating in buildings and that the benefit to be provided by increasing domestic production in the natural gas supply through this discovery and future discoveries would be very important for Turkey by contributing to macro targets such as reducing the current account deficit stemming from energy imports and strengthening of the energy security.