The Biggest Gas Reserve Has Been Discovered In The Black Sea
- Muyiwa
- Aug 21, 2020
- 1 min read
One of the greatest discoveries a country could ever seek is natural gas. Why? Because it holds one of the major and greatest sources of income for a nation. Russia, Iran, and Qatar respectively top this list. Who else has hit this pot of gold? Turkey just did.
Natural gas is a colorless, odorless gas. It the main primary energy source used in the world. Over 26 trillion cubic feet or 800 billion cubic meters have been discovered by Turkey. The discovery was at the western black sea. Just near region where Romania had also found its gas reserves.
In 2019, Turkey's energy imports expenses were $41 billion. The gas reserves recently found can free Turkey from these expensive energy imports. It will also ease dependency on countries such as Iran, Iraq, and Russia for their energy. Particularly, the country’s currency will be saved from the severe plummet.
Turkey's President Recep Tayyip Erdogan described the discovery of the large natural gas reserves as “good news” that will usher a “new era.”
Hopes are, extracting and usage of the gas will be available by 2023.
However, according to experts, productions could happen between seven to ten years. The estimated investment could also cost between $2 billion and $3 billion.
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