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TURKEY
  • Energy Regulator says 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.
  • "In today's market prices, the value of the total gas discoveries is over $100 billion.
  • Initially, 3 to 5 bcm of production per year is planned from the Black Sea by 2023 but this could increase up to 15-20 bcm annually,
  • which would reduce Turkey's gas imports by 30% and its current account deficit as well,"
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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