Skip to content Skip to Search
Skip navigation

Turkey to start pumping Black Sea gas from April 20 

GIC completed the acquisition of a minority stake in Pipecare Group Holding on November 15
GIC completed the acquisition of a minority stake in Pipecare Group Holding on November 15

Turkey will begin pumping the natural gas discovered in the Black Sea into the national grid on April 20, President Tayyip Erdogan announced.

In December 2022, the president announced the discovery of an additional 58 billion cubic metres (bcm) of natural gas reserves at the Caycuma 1 block in the Black Sea.

The country’s natural gas reserves in the Black Sea are measured at 710 bcm, with a market value of $1 trillion, the Daily Sabah newspaper reported.

In 2022, Ankara drilled 94 exploration wells and 56 production wells. In 2023, the government announced plans to have 207 wells with 134 exploration and 73 production centres.

About 10 million cubic metres (mcm) of Black Sea gas per day are likely to be transferred in the initial phase. The government is building the infrastructure to enable a peak transfer at 40 mcm through 2026.

At present, Turkey imports all its energy needs and has extensive gas and liquefied natural gas import infrastructure. The country’s annual gas consumption rose from 48 bcm in 2020 to 60 bcm in 2021. 

Erdogan expected consumption to reach nearly 53.5 bcm last year.

Latest articles

Shoppers choose vegetables in Istanbul; inflation means people are spending on essentials

Turkish retailers’ confidence wavers as inflation bites

Confidence is falling among Turkish retailers, according to a survey from the country’s statistics agency Turkstat. Shoppers have been scaling back on big-ticket purchases, spending instead on basic consumer goods as inflation piles pressure on household incomes. May’s business confidence report, released by Turkstat on June 24, showed sentiment in the retail sector at its […]

Water is handed out to pilgrims in Mecca. Hundreds of pilgrims without a Hajj permit died during extreme heat last week

Egypt shuts down 16 travel companies after Hajj tragedy

Egypt has withdrawn the operating licences of 16 travel companies for organising unlicensed Hajj trips to Saudi Arabia. A statement from the Egyptian government said the companies would be prosecuted and fined, with the funds used to compensate pilgrims’ families for their loss.  Hundreds of Egyptians were among 1,301 people who died of exposure to […]

Spinneys plans to open another 12 stores in Saudi Arabia by 2028

Spinneys opens first Saudi supermarket in Riyadh

Spinneys has opened its first supermarket in Saudi Arabia and is planning a further 12 stores in the country by 2028. The UAE supermarket operator listed on the Dubai Financial Market last month and raised AED1.38 billion ($375.7 million) from its initial public offering, which was oversubscribed almost 64 times. The first Spinneys in Saudi […]

Ooredoo ad in Doha. The company is investing $1bn to increase its data centre capacity

Qatar’s Ooredoo signs AI deal with chipmaker Nvidia

US chipmaker Nvidia has signed a deal with Qatari telecommunications provider Ooredoo Group to bring its artificial intelligence technology to five countries in the Middle East, the companies announced on Sunday.  Ooredoo will be the first company in the region to offer direct access to Nvidia’s AI and computer chips to its customers in Qatar, […]