Turkish president announces discovery of new 75 bcm natural gas reserve in Black Sea

ISTANBUL, TÜRKİYE - MAY 17: Türkiye has discovered a new natural gas reserve of 75 billion cubic meters (bcm) in the Black Sea, President Recep Tayyip Erdogan announced on Saturday. "We have discovered a new natural gas reserve of 75 billion cubic meters in the field. With this amount, we will be able to meet the residential demand alone for approximately 3.5 years," Erdogan said during his speech at the opening of Istanbul Physical Therapy and Rehabilitation Training and Research Hospital. "Our work at the Goktepe-3 well (in the Black Sea), which began on March 27 with our 7th-generation drilling ship Abdulhamid Han, was completed as of yesterday," he added. Erdogan emphasized Ankara's commitment to energy independence. "We will continue on our path without stopping, without resting, and without paying heed to criticism or obstacles until we reach our goal of a fully energy-independent Türkiye." Erdogan said: "From nuclear energy to hydroelectric, from wind to geothermal, from solar energy to oil and natural gas, we have made significant investments in every field. We are striving to unlock our country’s true potential in this area." He further stated: "Our discovery in the Sakarya Gas Field has been, quite literally, a turning point for our nation." The president emphasized that the economic value of their natural gas discovery stands at 30 billion dollars. As part of the Sakarya Project, they will use a floating production platform to develop the field, which will significantly increase its economic contribution, he added. (Footage by Melik Fırat Yücel /Anadolu Agency via Getty Images)