BAKU, Azerbaijan, Sept.10
Trend:
Turkey will be among the three largest contributors to working gas capacity additions globally alongside with Russia and China between 2021 and 2025, Trend reports with reference to GlobalData, a leading data and analytics company.
The company estimates that the abovementioned countries will collectively contribute 54 percent of the total working gas capacity additions from planned and announced projects between 2021 and 2025.
Bhargavi Gandham, oil and gas analyst at GlobalData noted that Turkey is expected to be the third largest contributor to working gas capacity additions globally with 372 bcf.
“Of these, planned capacity additions account for 355 bcf and announced capacity additions account for 17 bcf by 2025. Among the planned projects in the country, Tuz Golu II is the largest upcoming project, with a capacity of 148 bcf. It is expected to start operations in 2023,” he added.
Russia is expected to add planned working gas capacity additions of 634 billion cubic feet (bcf) by 2025, while announced projects account for the remaining 179 bcf. China as the second highest contributor to global working gas capacity additions, with planned capacity additions of 473 bcf by 2025.
Turkey has ramped up exploration for oil and gas off its coasts in recent years. Turkish explorers last year found 405 billion cubic meters of gas at the nearby Tuna-1 well in Sakarya field, the biggest ever discovery in the Black Sea. Turkey currently imports nearly all of the 50 billion cubic meters of gas it consumes annually. Officials expect domestic production to boost the nation’s gas demand by 60 percent, to as much as 80 billion cubic meters per year by 2030.