IICEC Director Güray: We expect the recently discovered natural gas reserves to contribute to the sector’s growth

Sabancı University Istanbul International Energy and Climate Center (IICEC) Director Bora Şekip Güray shared his assessments of the recent developments about natural gas reserves. Güray said he expected the 540 billion cubic meters of natural gas reserves discovered as a result of explorations recently intensifying in the Black Sea to provide multi-dimensional benefits to the sustainable growth of the energy sector in Turkey.

BoraSekipGuray

Calling the developments in the field of natural gas positive, Sabancı University Istanbul International Energy and Climate Center (IICEC) Director Bora Şekip Güray said, “Steps that can enable Turkey to cater for its natural gas needs, for 99% of which Turkey is dependent on imports, through its own production will help decrease the share of energy imports in total energy consumption, which is currently above 70% for primary energy sources,  and lower the nearly 30-billion USD energy imports bill, a figure that could have been much higher had it not been for the pandemic and the accompanying shrinkage of demand.”

Turkey to have a stronger hand

Highlighting that the recent discoveries were important also from the perspective of energy security and technology-focused development, and would make Turkey’s hand stronger in negotiations for gas imports, Güray said, “It is important to evaluate these developments in such a way that they can contribute to efforts towards the competitive development and deepening of the natural gas market, long-awaited items that have come to the agenda this year”.

Güray pointed out that natural gas had the potential to be used more commonly in residential and other buildings in an integrated way with energy efficiency improvements, in transport in line with mobility and urbanization trends, and in some industries, and added that, considering prospective growth trends in these sectors in the short and medium term, natural gas would remain important for Turkey’s plans for a cleaner energy perspective. Güray also pointed out the role of a reliable, efficient and competitive natural gas economy as a tool to support more renewable energy-based growth as the main axis of energy generation, and also a more competitive and predictable energy market.

Release date: 04.08.2021 12:43:13