Billion cubic metres of natural gas

Türkiye is rapidly emerging as a natural gas producer in Europe, with its annual production projected to reach 13 billion cubic meters (bcm) by 2050, according to a report by the Gas Exporting Countries Forum (GECF).

In the current year, the country's natural gas production is anticipated to reach 1.6 bcm, driven by the commencement of the first phase of the Sakarya field, it said.

Turkey will provide state support for a major project to develop the natural gas field it discovered in the Black Sea, according to a presidential decree published in the Official Gazette yesterday.

Turkish Petroleum (TPAO) project's investment value will be 145.1 billion Turkish Liras (approximately $10 billion) and the project period will be 11 years, according to the decree.

Turkey will soon announce a significant natural gas discovery in the Black Sea, the country's Energy and Natural Resources Minister Fatih Dönmez said on Nov. 9.

Turkey's gas discovery of 540 billion cubic meters (bcm) with a market value over $100 billion will be open for trading under the name 'Black Sea Gas Contract' in Turkey's future gas market which will launch on Oct. 1 in Istanbul, Mustafa Yılmaz, head of Turkey's Energy Market Regulatory Authority (EPDK) told Anadolu Agency on June 9. 

The implementation of the interconnector Greece-Bulgaria (IGB) that will provide delivery of Azerbaijani gas to South East Asia has already been settled. It is an irreversible process.

This was stated by Energy Minister of Bulgaria Temenuzhka Petkova at a round table on "Risks and prospects for the energy security of South-Eastern Europe", reports Azer News.

Greek energy firm Energean said on Tuesday it signed three new deals to sell natural gas from the Karish and Tanin offshore fields to Israeli companies.

The deals were signed with Dorad Energy Ltd and two subsidiaries of the Edeltech Group, Ashdod Energy and Ramat Negev Energy.

Turkey broke its all-time natural gas usage record on Jan. 25-26, as 235 million cubic meters were used across the country due to cold weather.

More than 1.1 billion cubic meters (bcm) of gas was consumed during the period of Jan. 25-29, hitting another record on a weekly basis, according to data compiled by Anadolu Agency from the Energy Ministry. 

Russian gas giant Gazprom said on Feb. 2 its gas exports to Turkey increased by 3.4 percent in January from the same month a year earlier to 2.82 billion cubic meters (bcm), said Chairman of the company's management committee Alexey Miller on Feb. 2, adding that the country is still Gazprom's second-biggest customer now.

Israel's government has given the go ahead to begin exporting natural gas to Egypt, signaling a potential improvement in relations between two countries which have been at loggerheads over energy supplies.

The weakness of the Turkish Lira against the U.S. dollar has placed an extra 11 billion lira ($3.82 billion) burden on Turkey?s natural gas bill since the beginning of the year, Energy Minister Taner Y?ld?z said on Aug. 19.